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Backed by fund manager Australian Secure Capital Fund (ASCF), Finsure’s new offering will give brokers access to private lending solutions including bridging finance, first and second mortgages, and short-term business loans.
The addition further broadens Finsure’s existing white label range, giving brokers another option for customers whose borrowing needs may fall outside traditional lending criteria.
Finsure head of white label John Lafferrarie said the addition of private lending solutions aimed to enable brokers to support a broader range of customers, particularly business clients.
“Private lending solutions give our brokers the opportunity to support a broader customer base, particularly business customers who may not meet traditional borrowing requirements,” Lafferrarie said.
Finsure said the expansion comes as demand for non-conforming lending through its network continues to grow, with the percentage of non-conforming loans written through Finsure Loans increasing by 68 per cent since January.
“While it is hard to narrow it down to one reason, I believe changes in prime lending policies have resulted in more borrowers looking for alternative lending options,” Lafferrarie said.
“By adding Finsure Loans Ascend to our white-label offering, we are giving brokers another valuable option to help meet that growing demand.”
ASCF CEO Richard Taylor said the partnership represented a continuation of the relationship between the two businesses and would provide brokers with greater flexibility as lending and property markets continue to evolve.
“We have always had a close relationship with Finsure, which is now culminating in our white-label partnership,” Taylor said.
“As the property market continues to evolve off the back of recent legislative changes, I have no doubt our flexible solutions will give brokers the options they need to support more clients.”
White label lending continues to expand
The launch comes as aggregators continue to broaden their white label lending ranges through partnerships with specialist lenders.
Loan Market Group (LMG) has been among the most active, adding four non-bank partners to its LMG Lending portfolio in recent months. Its latest addition, Bluestone Home Loans, will take the portfolio to seven lenders when it launches in September, adding specialist lending for self-employed borrowers and customers with complex income or credit histories.
Connective has also expanded its white label range through partnerships with specialist lenders, including the launch of Connective Reverse with Household Capital, giving brokers access to reverse mortgage lending for borrowers aged 60 and over.
More recently, Connective partnered with non-bank lender Skip to launch Connective Skip, a low-deposit home loan allowing eligible borrowers to access lending with deposits as low as 2 per cent.
Past that, both AFG and Mortgage Choice have expanded into commercial and SMSF lending through a white label partnership with Pepper Money.
[Related: Bluestone joins LMG commercial panel]
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