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The proposition will launch on 28 September and will offer lending options across borrowing power, self-employed borrowers, eligible company and trust structures, and bridging finance.
Connective said the white label was developed with broker input and is intended to broaden the scenarios its members can support.
New lending options
At launch, the range will include Prime Max, offering lending up to 85 per cent loan-to-value ratio without lenders mortgage insurance, Lite Doc for self-employed borrowers, lending for eligible non-trading company and trust borrowers, and bridging finance.
The proposition also includes a 2 per cent servicing buffer, up to 95 per cent of rental income accepted in eligible scenarios, and flexible treatment of bonus and overtime income.
Michael Goerner, head of Connective Lending, said the new proposition would give brokers more options as their clients’ circumstances change.
“For more than 11 years, Connective Lending has built white label solutions around the needs of our members and their clients,” Goerner said.
“Connective Athena adds more options for clients who need greater borrowing power, have more complex income or structures, need to move quickly or want greater flexibility.”
Connective Lending has funded more than $40 billion in loans for Connective members’ clients since launching in July 2015.
“Having greater breadth means brokers can stay with clients as their circumstances change, rather than solving for a single transaction,” Goerner said.
“That is important to how we think about Connective Lending. We want every proposition in the portfolio to broaden what our members can do for their clients and create meaningful opportunities for growth.”
Built around the broker
Nathan Walsh, CEO and co-founder of Athena, said the proposition had been developed through conversations with brokers about the scenarios they were dealing with.
“Connective brings deep relationships with its members and more than a decade of white label experience, while Athena brings digital innovation, progressive policy and a service model built for speed and ease,” he said.
“We built Connective Athena around real conversations with brokers about the scenarios they’re solving for every day, not around what was easiest for us to build.”
The proposition will also give brokers access to state-based Athena business development managers, Connective lending managers and scenario support, alongside the Athena Broker Portal and Connective Lending’s AI-powered product and policy assistant, Charley.
The Connective Athena Bridging Modeller will allow brokers to explore property-move strategies with clients, while a post-settlement app will provide brokers with a profile, contact details, and referral function.
White label expansion
Athena has funded more than $14 billion in home loans since its launch in 2019, while Connective said its white label lending business has funded more than $40 billion since 2015.
The partnership comes as an increasing number of white label loans are announced.
Earlier in the month, Mortgage Choice partnered with non-bank lender Skip to launch a new white label home loan aimed at helping more borrowers with smaller deposits access home ownership.
Then in August, AFG launched a white label bridging loan with Bridgit, shortly after Finsure partnered with Australian Secure Capital Fund to launch Finsure Ascend.
Before that, Loan Market Group added Bluestone as its seventh white label lending partner, while both Mortgage Choice and AFG moved into commercial and SMSF through white label partnerships with Pepper Money.
[Related: The good, bad, and ugly of non-banks in open banking]
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