Rate Money expands into Qld’s home loan market

Rate Money has announced its entry into Queensland’s $156 billion home loan market with the opening of three new branches in Aspley, Fortitude Valley, and Logan, marking the lender’s debut in the Sunshine State.

CEO Ryan Gair said: “Our entry into Queensland is a significant milestone for Rate Money, and we’re incredibly proud to welcome Julie, Nicole, Sida, and their teams to the Rate Money crew.

“These franchisees bring decades of experience in the lending industry and a deep understanding of the needs of self-employed borrowers.

“They are seasoned professionals who have successfully run their own businesses, and their expertise will be invaluable as we continue to grow in this vibrant market.”

Gair highlighted Rate Money’s commitment to providing flexible and accessible lending solutions, emphasising the company’s new product offerings, including a one-year tax return product and the Elevate easy doc construction product.

“We’re proud to be evolving the lending landscape. Our latest product offerings demonstrate our commitment to providing flexible and accessible lending solutions to meet the needs of the hardworking 300,000-strong self-employed Queensland workforce,” he said.

The expansion comes as Queensland experiences a surge in construction, particularly in the sub-$1.5 million segment, which is a key focus for the new branches.

Rate Money launched its Elevate Construction loan in early May, which is tailored to self-employed Australians looking to build their own homes.

The home loan provider developed full and alternative documentation (alt doc) options for the construction loan, allowing those on alt doc to supply an accountant declaration as evidence of payment history.

The Elevate Construction loan offers a 30-year term and an additional 18 months for the construction period, a feature that the CEO said was “not typically included by other lenders”.

Gair said: “Our no clawback and no risk fees policies will be crucial in providing certainty for our Queensland self-employed heroes coupled with our award-setting standards for customer service.”

All three branches are now open and ready for business, positioning Rate Money to make a substantial impact in Queensland.

“We recently achieved a significant milestone in our growth journey, with $8 billion in loans written since inception in 2019, with $4.5 billion achieved in just the past 24 months,” he said.

“But this is just the beginning. We will continue to evolve and are committed to offering more innovative products and services that meet the unique needs of our customers.”

[RELATED: Home loan provider reaches $8bn milestone]

Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

E-mail Adrian at: This email address is being protected from spambots. You need JavaScript enabled to view it.