My Local Broker launches niche white label product

by Julia Corderoy15 Feb 2016
Challenger aggregator My Local Broker has announced a unique white label home loan product ahead of the business’ official launch set for April 2016.

As the name suggests, the Footy Home Loans product is a home loan targeted at football fans – specifically the fans of NRL team Melbourne Storm after a sponsor agreement announced in December.

“The Footy Home Loans brand was released in December,” My Local Broker CEO Jaci Smith told Australian Broker.

“Melbourne Storm announced that Footy Home Loans would be the major sponsor of the Auckland nines Melbourne Storm team [who played earlier this month].”

However, Smith told Australian Broker that the Melbourne Storm is only the beginning. 

“We are also talking to other clubs, so St Kilda football Club is another one we are finalising discussions with at the moment. We are talking to a number of different AFL clubs for 2016 as well as adding additional NRL clubs the Footy Home Loans product.

“It is not just Melbourne Storm, it will be both codes – AFL and NRL – and there will be more clubs coming to the pack.”

Smith says it was important for her to create a niche home loan product and as a major football fan, Footy Home Loans was born. However, she explains there is more to it than just a love of the game – it is also about community engagement.  

“For me, I love footy. I am a massive AFL fan and I grew up in Brisbane so I have been following the NRL my whole life. But what we found too was the club also gets a benefit,” Smith told Australian Broker.

“There have been a number of articles out at the moment about clubs that are just floating above profit margins. This gives the ability for a club to generate additional revenue to help support the club in terms of development, scientific medicine, ways to improve their players and ways to engage the community. We give a referral back to the club to help them to continue the good work they do in their local community. 

“For us, the consumer is winning and the club is winning as well. Obviously the broker is winning too because they get to walk into someone’s home who is probably a fan of the same club as them so it is a nice emotive experience.”  

Smith says consumers not only get a “great rate”, with a 4.09% variable rate, but they also receive a Footy Home Loans Guernsey signed by the entire Melbourne Storm team as well as a Melbourne Storm Steeden football. She says the product has already seen impressive feedback.

“We have had about 4,500 views on the [Footy Home Loans] site and about 45 leads come through as well,” Smith told Australian Broker

“We have a lot of marketing to do with the Melbourne Storm this year but we are just in that pause mode at the moment because we do not open for business for [just under 50] days. At the moment, we are giving these leads to brokers to come and try us but come the day we do cut the ribbon, you need to be a part of the My Local Broker network to access the Footy Home Loans product.”