Non-bank extends broker channel presence
Publication Date: Monday, 4 May 2020
This article originally appeared in The Adviser
Brighten Home Loans has joined the lender panel of Vow Financial, its first aggregator partnership, as the non-bank looks to “rapidly grow” in the third-party space.
Brighten Home Loans, a subsidiary of Real Asset Management, has been growing its presence in the third-party channel recently – and last month appointed Natalie Sheehan as its inaugural head of distribution.
The lender, which predominantly finances house and construction loans for non-resident borrowers from Asia and resident borrowers with income from abroad, has been looking to grow its distribution footprint as it looks to enter more market segments.
Brighten has now joined Vow Financial’s lender panel, giving brokers operating under the aggregator access to its products.
The partnership marks the lender’s first agreement with an aggregation group.
Ms Sheehan said that Brighten was “excited about partnering with Vow”, adding that “mortgage brokers are in a prime position to drive competition and provide real choice for consumers looking for alternatives to the major banks”.
She continued: “Vow’s brokers and their clients will benefit from our streamlined and reliable product offering, simple and competitive pricing structure, and superior service proposition assisted through our time-saving cloud-based technology platform.
“Building on our multi-institutional funding structure, our partnership with Vow will enable us to further accelerate our rapid growth as a major provider of finance to both non-resident and resident borrowers,” Ms Sheehan said.
Brighten’s head of operations, Jason Ford, added: “The Brighten team is thrilled as the partnership with Vow demonstrates Brighten’s capability and commitment to becoming a major non-bank lender.
“We will continue to invest in our people as well as our end-to-end digital mortgage solution platform that drives innovation to achieve cost and service efficiencies.”
Likewise, Vow Financial chief customer officer Sean Preece said: “We, at Vow Financial, are all about delivering value through inclusive mortgage solutions by catering to diverse borrower needs that many lenders in the mortgage industry are still unable to address.
“Our partnership with Brighten is a key aspect of this commitment, and we look forward to celebrating many successful milestones together through the course of our association.”