Aggregator set to launch flexible new home loan

by Madison Utley08 Aug 2019

An aggregator has teamed up with a non-major bank to expand its home loan offering under its own brand, with national availability via its broker network to come within the next two weeks.

The partnership with Adelaide Bank has enabled Aussie Home Loans to launch Aussie Elevate, making possible a range of flexible solutions “designed with all types of customers in mind,” from first home buyers to those looking to expand their home ownership or investment property portfolios.

Aussie Elevate includes a 100% offset account with variable and fixed rate loan options with the ability to redraw funds, bridging finance to help those finding their next home, construction and land only loans, and a branded VISA credit card with a low interest rate.

According to Aussie chief customer officer, David Smith, “These are new features for the Aussie brand to have in market; we’re stepping outside the norm to provide greater flexibility and financial freedom for our customers.”

“With the home loan market and the needs of home buyers changing at a rapid pace, it’s important to offer solutions that keep up, to provide customers with attractive home loan options,” he added.

Further, customers will be able to transact via a 24/7 online platform and track their expenses with automatic spend categorisation.

The new home loan has been successfully piloted in South Australia, Northern Territory and Western Australia.

“We wanted to make sure our assumptions about how brokers would react and take to the policy, the product and the pricing were accurate, that customers’ reactions were what we thought they’d be and that everything worked efficiently. The feedback has been really reassuringly strong,” said Smith.

“When we went to market, we were confident we would find a partner with capability. Adelaide Bank has brought the capability, but much more importantly for us, they brought two more things: passion for the broking channel and a genuine care for the customer.

“Adelaide and Aussie are like old friends. We’ve been partners in various ways for two decades, so it meant we didn’t have to spend time getting to know each other, we just spent the time building a really great product and service offering.”

Adelaide’s head of third party banking, Darren Kasehagen said, “We are thrilled that Aussie chose us to join their white label panel. We think our organisations align really well.

“In a highly competitive lending market, Adelaide Bank’s relationship-based service offering, underpinned by Aussie Home Loans’ national team of Relationship Managers, will ensure Aussie Elevate ticks all the boxes for Aussie’s customers.”