Non-bank lender partners with Quickli
Publication Date: Thursday, 28 February 2024
This article originally appeared in The Adviser.
A non-bank lender has partnered with Quickli following recent policy changes that aim to improve loan serviceability.
Non-bank lender Brighten Home Loans (Brighten) has revealed details of its recent partnership with the lender servicing calculator platform Quickli.
Alongside more than 30 other players, Brighten has joined Quickli’s lending panel, an alignment that builds on Quickli’s ability to allow brokers to enter client information and scenarios into its platform and recommends a variety of products and lenders best suited to the client.
The announcement followed Brighten’s recent policy changes, which offers customers a reduced serviceability buffer of 2 per cent. The non-bank lender also offers a serviceability buffer of 1 per cent for eligible refinancing loans.
According to the non-bank lender, the policy change aims to streamline the documentation process and cater to a broad range of borrower needs.
Brighten has also implemented changes such as enabling self-employed customers to use 100 per cent of their own or their director’s wages from the previous six-month period for servicing purposes and increasing the rental allowance to 90 per cent for all residential products.
Speaking on the decision to enter the partnership, the director and head of distribution at Brighten, Chris Meaker, stated: “We recognise the increasingly significant role non-bank lenders play in promoting home ownership and enhancing housing affordability.
“Our partnership with Quickli will further boost the visibility of our products among a wider group of brokers, thereby amplifying our service impact.
“Our approach to working with brokers is founded on listening to and actively responding to their needs.
“By equipping brokers with advanced tools and effective products, we empower them to serve our mutual clients more effectively. Partnering with innovative providers like Quickli is a testament to this commitment.”
Eric Dill, co-chief executive and co-founder of Quickli, stated: “As we move into 2024, serviceability remains a key focus for both brokers and customers.
“We are thrilled to welcome Brighten to our lender panel. Our mutual commitment to leveraging technology to empower and educate brokers is what has brought us together.”