Lender assures it's business as usual

by Madison Utley25 Mar 2020

A non-bank has committed that it “remains steadfast in its support” of both its customers and the broker channel as the impact of the COVID-19 pandemic continues to unfurl.

Liberty has announced a support package that includes the deferring of loan repayments, waiving of fees and restructuring of existing loans free of charge.

While the group was quick to acknowledge the severity of the situation and move to help support impacted customers, the lender has emphasised it will be business as usual within the organisation, even with the team now working from home. 

Turnaround times have remained unchanged and the group expects to continue lending to its "usual high service levels" throughout the crisis.

The group’s BDM network and direct sales team are adopting digital solutions to continue providing brokers with support to find more ways to get to ‘yes’ for customers.

Liberty also announced it will be lowering variable home loan rates by 0.15% p.a. for customers with LVRs up to 80%, effective 15 April.

CEO James Boyle said, “These are unprecedented times and, just as we were through the GFC, we remain open for business and ready to support brokers to help customers with their finance needs.

“Liberty has efficiently mobilised its teams to work from home. All service and support functions continue to be based in Australia as normal.”

According to Boyle, customers need the support of brokers now more than ever.

He also emphasised that Liberty has always assessed applications on a case-by-case basis as no two customers are the same, meaning the lender is well placed to help customers who may now need a more personalised approach given this highly unusual environment.