Aggregator continues to diversify

by Madison Utley27 Nov 2019

Loan Market Group has further diversified its panel with the addition of a low or no-deposit, no-LMI specialist lender.

Granite Home Loans targets a niche market it believes has been overlooked by mainstream lenders: tertiary-educated professionals with relevant industry experience and strong incomes, but limited savings.

The lender offers 90-100% LVR to engineers, lawyers, doctors and accountants as well as finance, IT and other high-earning professionals – all without applying for mortgage insurance.

Loan Market COO Stephen Scahill said, “We’ve intentionally developed a lender panel where broad-spectrum lenders are available to our brokers, alongside the bespoke.

“We’ve added Granite Home Loans to our growing panel to ensure our brokers have as many varied and specialist solutions available to them. This way, they can serve their customers better, faster and for the long haul.”

Granite Home Loans co-founder and director, Bridget Sakr added, “We’re convinced there’s a huge segment of professionals who should be deemed credit-worthy and can afford to repay a mortgage but get turned away by mainstream lenders because they have no or low deposit.

“We’ll back professionals with pristine credit-records and well-paying, secure jobs of at least three years, up to 100% (of the purchase price) without applying LMI.

“We’re excited to partner with the Loan Market Group team which likewise appreciates that no two borrowers are the same and have a commitment to unearthing solutions for everyone.”