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Better Choice, a non-bank lender within the BNK Banking Group, has announced a new partnership with VOW Financial to enhance its commercial loan offerings for brokers.
According to Paul Bakker (pictured), national sales and partnership manager, Better Choice is committed to providing brokers with alternative loan solutions.
“Whether it’s for an alt doc loan under our ultimate product range, or a commercial loan specialising in alt doc, lease doc, and SMSF Easy Refi, we have always been the go-to for brokers looking for an alternative loan solution,” Bakker said in an emailed statement.
On the other side of the partnership, Glenn Mitchell, VOW’s head of commercial and equipment finance, praised Better Choice for its competitive product offerings and efficient back-office operations.
“We’ve been keeping an eye on Better Choice for a while now and believe there are a lot of similarities in how our two organisations operate,” Mitchell said.
The partnership between Better Choice and VOW Financial was officially introduced at the VOW Commercial Conference held last week in Adelaide.
It comes after Better Choice upgraded its commercial product range and eliminated all broker clawbacks on commercial products.
As part of its recent upgrades, Better Choice has introduced features such as commercial term and alt doc loans with 25-year terms without annual reviews, SMSF Easy Refi, and options for cash out up to 70% LVR, along with an accountant-preferred declaration form.
In addition to unveiling the partnership with VOW Financial, Better Choice announced the promotion of Shay Lena from NSW commercial manager to national commercial manager.
In this new role, Lena will lead the company’s commercial segment, supported by a team of business experts focused on assisting brokers with commercial financing. He will also help brokers establish new referral networks with various financial professionals.
“As the new national commercial manager, Shay will be in charge of our growing commercial offering, which will be further improved by our recent collaboration with VOW Financial,” said Bakker.
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