Non-bank lender expands long-term loan offerings

The non-bank lender is now offering loans up to 30 years and sizes up to $5 million. This upgrade to Horizon Mortgages also includes loan-to-value ratios of up to 85 per cent on residential and 65 per cent for commercial, with prime, near prime, and specialist lending options available. Furthermore, these offerings are available to individual, trust, SMSF, and corporate borrowers.

Royden D’Vaz, general manager of distributions and partnerships, said on the announcement: “Since launching the first edition of Horizon Mortgages in late 2022, we’ve established ourselves as a trusted provider in long-term lending for full doc, alt-doc and SMSF solutions.

“We’ve listened to our brokers and identified a gap in the non-bank lending space for a large long-term loan for residential securities. By increasing the loan size to $5 million and opening it up to individuals, we aim to help more brokers and their borrowers.”

This move is part of Assetline’s expansion of its full product portfolio. According to a statement from the lender, this includes long-term loans, short-term capital, construction, and bridging finance.

Providing comprehensive offerings for borrowers can help give lenders a competitive edge.

“We’re here to provide brokers with a range of solutions so they can help more borrowers. Whether you’re refinancing a short-term loan into a long-term full doc loan, moving from a construction loan to a 30-year alt doc loan, or a bridging loan with an end debt, borrowers can easily roll into a long-term facility, and all with no clawbacks. With Assetline, transitioning from a short-term loan to a long-term solution can be simple and seamless,” said D’Vaz.

“We’ve not only expanded our product offerings in the last few months, but we’ve also introduced state managers and a head of commercial lending to ensure brokers and our aggregator partners are fully supported and have the tools and expertise they need to service their borrowers.”

Read the full article by Broker Daily.