Non-major helps brokers diversify into commercial

by Julia Corderoy15 Sep 2015
Non-major lender, ING Direct has established a specialist commercial property team to help brokers capitalise on the opportunities in commercial investment, in the wake of APRA’s tightening of residential investment.

The head of third party distribution at ING, Mark Woolnough, says there is a growing appetite for commercial lending as investors look beyond residential opportunities, so now is a better time than ever for brokers looking to build a sustainable and diversified business.

“With investors increasingly turning to commercial property there will likely be a complementary surge in demand for professional support to help navigate the market and negotiate on commercial loans,” he said.

“There is huge scope for brokers to meet this demand – they have relationships with lenders, access to market insights and are knowledgeable about the nuances of commercial loans.”

Leading the specialist commercial property team as national partnership manager is ex-mortgage broker, John Kolyvas. Kolyvas has more than 25 years’ experience, most recently with Bank of Queensland, and has also sat on the mortgage broking side as a broker with Aussie Home Loans.

Rounding out the team will be Richard Bennett as commercial sales manager for NSW, Adrian Lee as commercial sales manager for Victoria, and Donald Jamieson as commercial sales manager for Queensland. Andrew Lim, who has been with ING Direct’s mortgage team for more than 10 years, will join the team as senior partnership associate.

“In the past 12 months our commercial business has grown strongly through supporting residential brokers who have been actively looking for opportunities to diversify. By building a specialist team we are confident that we will able to support not only residential brokers looking to diversify but also those brokers who focus more of their business on commercial deals, accelerating the growth of the commercial aspect of our business,” Woolnough said.

The non-major has also established a new credit specialist team to support brokers with more challenging submissions, to workshop deals and to ensure a smooth credit experience.