Commercial lender adds SMSF arm
News | 10 July 2014 | Chris Kennedy
Wholesale commercial funder Sintex Consolidation has set itself to become a “fierce competitor to the banks” after diversifying into residential and SMSF finance.
>The non-bank will now offer residential loans, residential SMSF loans and commercial SMSF loans in addition to its traditional commercial offering.
General manager Cathy Dimarchos said the move into prime residential loans would allow Sintex to win new business and better serve its existing commercial clients.
She said Sintex had delayed its entry into SMSF lending until the industry had stabilised and its legislation had become more transparent.
“It’s a lot more transparent. There’s a lot less ambiguity and I think the people that are operating, they have a good understanding of the legislation and the offering,” she said.
Ms Dimarchos said Sintex’s diversification play would make it more attractive to mortgage brokers.
“It’s a good alternative for brokers to come to a non-bank lender who can offer a full product suite,” she said.
“We always have direct access to the decisionmakers. We’re very easy to deal with – the processes aren’t laborious and are transparent and are very competitively priced.”
She also said brokers could expect more products from Sintex as part of its strategy to grow its market share.
“It’s about becoming a fierce competitor against the banks in offering both consumers and brokers choice,” she said.