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Wave Money has revealed it has been added to the Yellow Brick Road (YBR) Aggregation lender panel.
This partnership will see the non-bank lender have access to over 1,250 more brokers, helping promote growth.
The non-traditional borrowers Wave Money caters to will see increased representation among YBR brokers.
Wave Money managing director and founder John Flavell said this achievement will help contribute to a “growing network” at YBR.
“We are absolutely delighted to be working with YBR Aggregation and their growing network of quality brokers who consistently deliver great outcomes for their clients. This partnership aligns with our ethos of helping brokers provide more solutions to more borrowers – especially those with complex lending requirements,” said Flavell.
“At Wave Money, we see ourselves as an extension of our broker partners’ businesses, offering direct access to our credit team to discuss scenarios and workshop solutions. Our bespoke lending approach makes all the difference when navigating complex deals.”
YBR-accredited brokers can access Wave Money’s offerings immediately. Peter Bryant, YBR’s head of aggregation, said the specialised products will allow for greater borrower choice.
“The lending environment is becoming increasingly complex for certain borrowers, particularly for self-employed borrowers, property investors, and borrowers with variable income streams such as commissions, bonuses, and overtime,” Bryant said.
“Wave Money’s tailored products and service offering are designed to address these challenges, making them a valuable addition to our panel.”
‘Embracing complexity’
Wave Money has made a name for itself by “embracing complexity”.
The lender caters to the non-traditional type of borrower. That could mean a number of things:
- Variable income: Cash flow fluctuations due to business cycles and project-based earnings make it harder to demonstrate serviceability.
- Complex financial structures: Intertwined personal and business finances through companies, trusts, and investment structures.
- Documentation requirements: Many lenders require extensive proof of income that doesn’t align with the way self-employed borrowers earn.
- Perceived risk: Traditional credit models score non-traditional income as high risk, even if the borrower is financially stable.
- Regulatory and policy constraints: Tighter lending policies and criteria often exclude those with unconventional income patterns.
Now being added to another lender panel, Wave Money can help service even more under-represented borrowers.
