April 8th, 2019
The buzz at Connective this week is the launch of a new Connective Home Loans (CHL) white label product – CHL Solutions, funded by Pepper. Brokers who are already disciples of white label home loans have been eagerly awaiting the release of this new ‘near-prime’ product.
We talked with Michael Goerner (MG), Head of CHL, about the new CHL Solutions product and other exciting new opportunities that CHL has in the pipeline for brokers this year.
First up, tell us more about CHL Solutions, MG.
“Connective Home Loans is now catering for every customer of every broker. By adding CHL Solutions funded by Pepper, we have expanded our white label home loan offer into the whole home loan market” says MG.
“This is a great opportunity for brokers offering white label. As lending criteria has tightened over the past 18 months, the ‘near prime’ lending market has been growing and the ‘prime’ lending market has been shrinking” he explains.
“CHL Solutions provides an instant way for brokers to service more customers with white label loans, because they can now offer them to everyone.”
So, which customers suit CHL Solutions?
“We’re talking about people who are not eligible for a vanilla loan” says MG. “This might mean people who have been declined by another lender for just failing servicing – like those in short-term employment, all the way through from the slightly credit-impaired to a freshly discharged bankrupt.”
“CHL Solutions is also great for the self-employed, small business owners and people who are looking to consolidate their debts into their mortgage. Brokers will find that CHL Solutions is more understanding of the customer’s situation compared to products from other lenders.”
What are the benefits for brokers offering CHL white-label?
“Have a read of our article ‘5 reasons to offer white label products’ to find out what it’s all about” he recommends. “One of the greatest benefits of CHL white label loans is our capacity to give every broker and every customer a great experience – in fact, it’s my main focus this year.”
“We want to differentiate CHL from other lenders in the way we nurture both brokers and their customers throughout the end-to-end process” MG explains. “It’s my mission to ensure that you not only get the best support, but the best result for your customer.”
“A quality application results in a quality experience for both broker and customer. So, we’ve created four new CHL Business Development Manager positions to assist with scenarios and workshopping deals prior to submission – they’ll be coming onboard soon.”
What’s coming up next?
“We want our brokers to enjoy a sense of confidence with our offering that’s second to none. We’ll soon be releasing more white label products – next it’s CHL Select” MG says.
“Macquarie’s withdrawal last year created an opportunity for us to partner with a lender prepared to provide a white label prime product with a genuine 100% offset” he says. “This has resulted in CHL Select funded by Adelaide Bank – it’s a great differentiator for CHL brokers and fantastic news for their customers.”
“And coming in after that will be CHL Resolve funded by ThinkTank. This is a very exciting opportunity as it will take our offering into a new market – commercial lending – where there’s a massive amount of scope for residential brokers to diversify” he adds.
Want to find out more?
Watch your inbox for upcoming invites to CHL Workshops and Webinars. Meanwhile, join us at Lender Splendour in May where you can meet MG and the CHL Team and find out more about the products. To get accredited for CHL Solutions now, just click your CHL button in Mercury.
For more information on CHL Solutions, contact your BSM or talk to your Pepper BDM.