Assetline Capital breaks record for yearly loan settlement growth

18 Mar 2024

Assetline Capital breaks record for yearly loan settlement growth

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48% increase in 2023 as lender expands team, partnerships.

48% increase in 2023 as lender expands team, partnerships.

48% increase in 2023 as lender expands team, partnerships.

Assetline Capital is celebrating a 48% increase in total loan settlements for calendar year 2023 – a new year-on-year record for the non-bank lender.

The institutionally funded non-bank, which is part of the AltX Group and has offices in Sydney, Melbourne and Brisbane, has now funded more than $3.1 billion of property-backed transactions for property professionals, SMEs and SMSF via its broker network since setting up in 2012.

Assetline Capital said the 48% growth in loan settlements highlighted its dedication to providing fast, flexible financial solutions, and its continued success in meeting the diverse needs of brokers and borrowers.

It also recorded 99% growth in short-term capital lending products, which cater to short-term capital, SMSF, residual stock, non-resident and refurbishment needs.

National head of sales and distribution Royden D’Vaz (pictured above) said there had been significant developments for Assetline Capital in 2023, including product launches, office openings and aggregator partnerships.

“We have seen tremendous growth in the past year, from building our sales team across the country, opening a new office in Brisbane, joining the lending panels of leading aggregators, and releasing a number of new products into the market including Clinch Bridging Loans,” D’Vaz said. “These improvements are reflected in our numbers.”

Apart from growth within Assetline Capital, D'Vaz said the boost in loan settlements had also been driven by an increase in appetite for construction financing.

“We've noted a normalisation of construction costs after it peaked in 2023, suggesting that the building sector is stabilising,” he said.

“This along with an increase in construction funding requests shows there’s an growing interest in this part of the sector. Last year, we settled over $170 million in construction loans and one of the reasons why we introduced a $1 million to $5 million Alt Doc Construction product was because of broker feedback and customer demand.”

Boost in short-term capital lending – Assetline Capital

Commenting on the 99% growth in short-term capital lending products, D’Vaz said the non-bank had “listened intently to feedback from brokers and extended our short-term maximum loan terms to 36 months”.

“Extending the maximum loan term from 18 months to 36 months has provided more comfort and flexibility to our brokers and their clients,” he said.

“Our short-term capital lending product suite caters to a lot of borrowers’ needs including SMSF, refurbishment, non-resident and residual stock. We have seen an increase across the board in this product but especially with residual stock loans.”

Promotional offers including reduced establishment fees and reduced rates had also contributed to the growth in short-term capital lending.

Further flexibility, improvements for brokers

D’Vaz said Assetline Capital wanted to continue building on its success. This meant offering brokers more flexibility, and further solidifying its position as a trusted and innovative leader in the non-bank lending space.

“In the next 12 months, brokers can anticipate significant advancements from Assetline across various fronts,” D’Vaz said.

“Firstly, enhanced policies within our range of products will offer brokers greater flexibility and options to meet the diverse needs of their clients. This expansion aims to cater to a broader spectrum of borrowers.

“Overall, brokers can look forward to a year of innovation and progress with Assetline, as we continuously strive to enhance our offerings, embrace technology, and refine our processes to better support the success of our broker partners and their clients.”

Assetline Capital now works with more than 16,000 brokers.

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*Approved applicants only. Terms and conditions and fees and charges apply. All applications are subject to lending and approval criteria.
Assetline Broker Partnerships Pty Limited is a corporate authorised representative (CAR No: 545343) of Assetline Clinch Finance Pty Limited (Australian Credit Licence: 448165).

*Approved applicants only. Terms and conditions and fees and charges apply. All applications are subject to lending and approval criteria. Assetline Broker Partnerships Pty Limited is a corporate authorised representative (CAR No: 545343) of Assetline Clinch Finance Pty Limited (Australian Credit Licence: 448165).

*Approved applicants only. Terms and conditions and fees and charges apply. All applications are subject to lending and approval criteria. Assetline Broker Partnerships Pty Limited is a corporate authorised representative (CAR No: 545343) of Assetline Clinch Finance Pty Limited (Australian Credit Licence: 448165).

*Approved applicants only. Terms and conditions and fees and charges apply. All applications are subject to lending and approval criteria. Assetline Broker Partnerships Pty Limited is a corporate authorised representative (CAR No: 545343) of Assetline Clinch Finance Pty Limited (Australian Credit Licence: 448165).