For those unfamiliar, a white-label loan is essentially a home-branded loan. Just like your favourite home-branded products you see in supermarket aisles there is more than meets the eye – the white-label loan is more than its competitive price tag. White-label products are high quality and are developed by leading lenders – they are just packaged differently and therefore available at a sharper rate.
White-label loans are exclusively available through mortgage brokers and have rapidly grown in popularity over the past few years. So much so that over 85% of brokers now have a white-label offering for their clients. And, as brokers and customers both demand more from white-label, the products have evolved to be about much more than price, to also focus on flexibility, service and quality.
There is a range of choice in white-label – you can get variable, fixed or combo rate loans. They are particularly suitable for home-buyers looking for a simple, straightforward product as through white-label you can have access to the loan features you need (like redraw, debit card access and a customer care facility) and you don’t have to pay for bells and whistles you won’t use.
In addition, service is increasingly becoming a differentiator for white-label. Sourcing a home-loan can be the biggest financial decision a person ever makes and understandably then, customers demand support from their brokers and rely on them as trusted advisers to guide them through the process.
A common misconception is that because the loan’s rate is more competitive, it does not come with the same level of support. Through a white-label loan, brokers can still access dedicated support teams – and ultimately give their customers quick responses to their queries and every chance of first touch unconditional approval. Quality Essentially, white-label delivers many of the same great features as bank-branded home loans, but for a lower cost to the customer. The quality remains the same, and the growing popularity of white-label is evidence that consumers are tapping into the opportunity and high-value of this product.
If you’re not sure if white-label is right for you, your mortgage broker can help you with this important decision. Because brokers have access to a myriad of loans from a range of different lenders – you can receive independent, unbiased advice based on their expertise and experience in the industry.
If you have any questions about your finances, either personal or business, please do not hesitate to contact Shane Hocking | SPH Mortgage Brokers on 0403 336 160 or email: firstname.lastname@example.org