Connective Home Loans and Bluestone have announced a linkup that will offer brokers a wider selection of offerings to offer to their clients.
Connective Elevate, as is known, will be a white label that can be used by brokers to offer bespoke products to their customers.
“While we had four funders before, now we have five,” explains Michael Goerner of Connective Home Loans. “The difference between our partnership with Bluestone, as to the traditional ones that we have had with our other funders, is that we’ve taken delivery of a product and a price.”
“Previously, we’ve had no real say in the development of that product or the actual pricing at the end of the day for the consumer. Whereas now, we’ve gone into the development, its features and benefits and the pricing of the product. Hopefully, we get a sharper product, better supported and with better service on this particular brand.”
“The one thing with Connective is that it is our brand,” said Goerner of turnaround times. “It’s important for brokers to know that, for us, it’s not just a product that we offer to them. It’s a strategy. If we deliver premium product, premium pricing and best service levels in the business, that places us as a good competitors against those retail brands.”
The advantage for the broker channel is that they can present the new product as a bespoke offering to their clients.
“The difference for a broker is that, if they continue to put a retail brand in the hands of the consumer, the consumer affiliates the transaction more with that retail brand than with the broker,” said Goerner.
“If they get a great product, great customer service and a great experience in the hands of a consumer that is a nondescript brand, like a white label, the association with where they got their transaction is more with the broker, not the brand itself.”
“Ask someone who their home loan is with, and 65% of the time, they’ll say it’s a major bank that’s provided that loan. If you can get that 35% that says that they had a great transaction with a white label brand, and that they got it from a broker, you’ll drive more referrals which is a great business strategy.”
