A non-bank lender has been welcomed onto the panel of its first major Australian aggregator.
Choice Aggregation Services yesterday announced the partnership with self-employed specialist lender RedZed.
According to Choice CEO Stephen Moore, providing brokers and their customers access to a wide range of options is a “key priority” for the group, especially in the current environment.
“Self-employed borrowers are turning to brokers for support now more than ever. The market for specialist lending continues to grow and we believe RedZed’s products and fantastic service ethic will be appealing to members looking to service self-employed clients,” Moore said.
RedZed’s offering includes both residential and commercial products catered to self-employed clients, many of whom struggle to obtain funding through traditional sources and a large percentage of which are currently in need of an additional level of support due to COVID-19.
Research from the ANU Centre for Social Research and Methods has shown that four in five self-employed Australians have reported a hit to profits as a result of the ongoing pandemic.
RedZed has expressed excitement over the partnership with “one of the industry’s most experienced and established aggregation groups”.
“Over the years, we have admired Choice and always thought very highly of the business,” said RedZed managing director Evan Dwyer.
“We see a strong alignment in both business’ values and are looking forward to working with Choice’s network of experienced brokers.”
The alliance is part of RedZed’s strategic growth plan as the lender previously operated a limited distribution model.
“In the 13 years since RedZed was established, we have invested heavily in building our expertise, processes and platform,” said Dwyer.
“The broker channel is and always has been an essential part of RedZed’s business and we see this partnership as a fantastic opportunity to continue to support Australia’s self-employed borrowers to achieve their business ambitions.”
