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Accredited brokers across several aggregation groups can now access the non-bank’s commercial lending products.
Non-bank lender Brighten Home Loans (Brighten) has confirmed its commercial offering is now fully integrated across the lender panels of aggregators Finsure, YBR, and outsource Financial, as the number of brokers writing commercial loans continues to surge.
Accredited brokers across these aggregators can now write a range of Brighten loans, including full doc, alt doc, lease doc, and private.
Brokers also have immediate access to training, business development manager (BDM) support, and assistance with accreditation.
Ben McKell, Brighten’s head of commercial lending, appointed last year to expand the non-bank lender’s commercial offering, said this move would benefit brokers who wished to diversify.
“Commercial lending has traditionally been a less explored space for brokers, who currently originate only around 30 per cent of commercial loans compared to over 74 per cent of residential loans. It’s an untapped opportunity for brokers,” McKell said.
“We’re here to help brokers capture this opportunity by removing complexity and providing clear processes, fast turnarounds and direct support. Brighten’s commercial lending solutions are built around brokers’ needs, enabling them to confidently expand their businesses.”
Chris Meaker, Brighten’s director and head of sales & distribution, also said joining the lender panel of these aggregation groups would help brokers aiming to do more work in the commercial space.
“The broker market is scaling rapidly, driven by increasing diversification and an entrepreneurial spirit,” Meaker said.
“This strategic expansion puts Brighten in a stronger position to support brokers, anticipating their evolving needs and enabling them to successfully expand their market share in commercial lending.”
Commercially minded
Recent data has suggested the third-party channel’s ongoing dominance of the residential finance segment has made many brokers eager to explore other opportunities in commercial finance.
Earlier this year, the Mortgage & Finance Association of Australia (MFAA) revealed the value of commercial loans settled by mortgage brokers had risen to its highest level on record.
Mortgage brokers settled a record $20.3 billion in commercial loans between October 2023 and March 2024, according to the MFAA’s Industry Intelligence Service (IIS) report, a 23.1 per cent year-on-year increase.
Meanwhile, the number of mortgage brokers writing commercial loans also rose to 6,755, according to MFAA data, representing a 15.2 per cent spike from the previous corresponding period.
At the time, MFAA CEO Anja Pannek said it was great to see more brokers diversifying their skills and embracing the opportunities to service a greater range of customer needs by offering commercial lending, as well as asset and equipment and business finance.
“The role brokers continue to play in providing choice and competition is important, and demand for their services will only continue to grow as market conditions are expected to ease in the coming months,” she said.
[Related: Brighten joins Mortgage Choice lender panel]
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