A trend seen in supermarkets over past years has been not only an increase in the difference range of white-label options on offer but also an increase in the quality of the home loan products. These trends have continued to the extent that white-label home loans are now of equal, or near equal, quality as their branded counterparts.
In the same way, banks and lenders across Australia provide ‘unbranded’ mortgage products to mortgage and finance brokers, which increases the range of options within the market and offers consumers competitive rates to generate valuable savings. Ultimately, it’s still a high-quality product and service, re-branded with a different name.
There are a many good reasons for you to consider a white-label home loan. Combining competitive interest rates and low fees with all the essential features and flexibility for you to choose additional feature and options that suit your needs, white-label home loans truly offer a compelling alternative to your traditional bank-branded home loan. Below we have listed five reasons why should you consider a white-label loan.
1. Simplicity is key ingredient in white-label home loan products, and they are perfect for home-buyers looking for a fixed-rate loan or a straight forward variable.
2. White-label loans are flexible, quality and cost-effective. Which offer you all the features you may need in a home loan product, like redraw, internet banking, debit card access, a customer care facility while you save as you.
3. White-label loans can only be accessed through mortgage brokers – this means you are getting access to a product many consumers in the market aren’t aware of. You can take advantage of your mortgage brokers guidance and expertise.
4. With white-label, you essentially receive a better deal and save because it’s not branded with the names of a big banks and doesn’t carry the cost of providing access to an expensive branch network that you may not need. Just like a reward for shopping around and doing your research through a mortgage broker.
5. We have hundeds of customers ask us, does this mean the products will be comprimising on quality? While you may think that less fees could mean reduced customer service. Saving on fees doesn’t mean you are compromising on service or quality. Through white-label, you still get access to support teams via phone and the facilities such as online banking and phone banking to give you quick turnaround times.
For example as LEND A LOAN offers AFG Homeloans EdgeTM as one of our white label home loan products with this product you can redraw any extra repayment at any time. below are some of the options available with AFG EdgeTM
- Free unlimited EFTPOS and ATM3 transactions via over 4200 ATMs in the NAB and rediATM networks.
- Complements your existing transactional bank account.
- Flexible repayment options including Direct Deposit, BPAY® In, Salary Crediting and Direct Debit.
- Set up direct debits for convenient payments of bills.
- Redraw via phone and internet, with no minimum amount to your nominated account and at no cost2.