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Rate Money has announced the extension of its products and services to the commercial property lending sector in an effort to access the non-bank commercial lending market.
As part of the expansion, Rate Money has unveiled commercial loan products designed to accommodate a wide range of borrower needs, such as Alt and Full Doc loans of up to $8 million, along with off-the-plan purchases, vacant land, and cashout options.
Additionally, the home loan provider has confirmed that SMSF borrowers are also supported, with all products offering competitive rates, no ongoing fees, no clawbacks for brokers, and no annual reviews or revaluation requirements.
Citing the 18th edition of the Mortgage & Finance Association of Australia’s (MFAA) Industry Intelligence Survey, Rate Money said the value of commercial loans written by mortgage brokers rose by over 23 per cent to $91 billion and SMSF ownership in commercial property increased to $108 billion.
Furthermore, Rate Money announced key appointments to its leadership team to further support this expansion. Based in Victoria, Reshma Rahman has been appointed as Rate Money’s national business development manager, while Mebin Babu was announced as its new commercial lending manager.
Commenting on Rate Money’s new venture, CEO Ryan Gair said while their primary focus has always been on “empowering self-employed borrowers with flexible and competitive” solutions, Rate Money has recognised “a significant opportunity to further support our franchisees, customers and referral partners by providing access to commercial property lending options that align with broader financial needs of the self-employed”.
“We are seeing real appetite from accountants, real estate agents, developers, mortgage brokers, and direct self-employed customers who are actively seeking alternative investment opportunities and wealth-building strategies,” Gair said.
“By expanding into commercial loans, we are positioning ourselves to meet this increasing demand with tailored solutions.”
According to Rate Money, by integrating commercial property lending solutions, franchisees will be able to retain more customers while strengthening existing referral partnerships and creating new business growth opportunities.
“We are committed to equipping our franchisees with the tools and expertise needed to succeed in today’s dynamic lending environment,” Gair said.
“By adding commercial property loans to our portfolio, we’re ensuring they have the ability to service a wider range of customer needs while enhancing long-term referral partner relationships.”
[RELATED: Self-employed lender reaches $10bn milestone]
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