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Non-bank lender set to rescue neglected borrowers

Publication Date: Monday, 17 September 2018
This article originally appeared in Your Mortgage Australia

Non-bank lender Brighten Home Loans recently disclosed that it had successfully secured $500 million worth of funding, which will be used to expand its loan book to $2 billion in the next two consecutive years.

Brighten Home Loans is focusing on Australian borrowers that have been “orphaned” by banks because of stricter lending policies and credit restrictions.

Part of the lender’s plan, according to its Business Development manager Mikai Ning, is also to build on its broker networks and hire more people to handle “significantly increased demand.”

Attracting brokers to their turf, Ning noted that the lender provides these professionals with a channel boasting of a greater clarity regarding loan approvals.

“We advertise our borrowing criteria and stick to it,” she added.

“We can be relied on to lend to broker customers who meet our criteria and we will never suddenly turn around to a broker and say, ‘Sorry, we now can’t fund your loan.’”

Moreover, customers’ satisfaction is expected, thanks to rates that are lower compared to the Australian banks that have recently raised rates.

Ning highlighted Brighten would allow non-residents to borrow up to $2 million for a 30-year home loan at a maximum 80% loan-to-value ratio (LVR), on a principal and interest (P&I) or interest-only (IO) basis.

“The lender also offers an introductory variable rate for a non-resident P&I loan on completed property of 4.99% and 5.39% for an IO loan,” Mortgage Business added.

Brighten Home Loans is a subsidiary of Real Asset Management (RAM) and is known for funding home and construction loans for non-resident borrowers from Asia.

What our customers and partners say about us

Couldn’t be happier with the service we received From Kay. Easy to communicate with, always helpful patient and friendly. As a builder, progress payment process sometimes become very complicated, Kay helps us to follow up every requests that we highly recommended!

Steven, Accredited Broker

Their ability to work with clients with such high customer service level and fast processing speed is incredible.

Jun,

I have been working with my BDM, Mikai Ning, for two years. Since meeting her, she has continued to impress me with her professionalism, her efficiency, and her patience to listen and explaining all information. Even during pregnancy period, she even said to me personally that if there is anything I require, that Mikai is still contactable and will get back to me as soon as she can. Her attitude is always super nice and is highly passionate about what she does. I have been in this field for so many years and she is the best BDM I have worked with.

Lulu, Accredited Broker

Great review for Mikai Ning. Not only is she highly passionate, but she is also very hard working and highly detail oriented in her work. No matter what time of the day, or day of week, she will always get back to us. We highly appreciate Mikai and Brighten for their hard work and ongoing support.

Fan, Accredited Broker

Brighten’s BDM, Liwen, has left a very impressive impression. Whether it is policy or product, she can solve and fix any problem, big or small, she is always reaching out and supporting us. From the beginning, It has been great to work with Brighten’s vastly experience team and great products. I always recommend Brighten to all my clients.

Jinkai, Accredited Broker

Mikai is a very passionate and proactive person. Our work with Mikai has is nothing but positive outcomes and we look forward to continuing working Brighten and Mikai.

Alan, Accredited Broker

My BDM Leo Liu has been a great help in assisting me setting up the referral program and educating in terms of products and knowledge. I look forward to the greater relationship with Brighten Home Loan and Leo Liu.

Anthony, Accredited Broker

It is just an incredible experience to work with Kay Yang. As it was my first time to write a deal through Brighten. Kay Yang was really supportive all the way through. Communication at all times, and being kept in the loop, were flawless and you could not wish for anyone better to look after your client’s interests.

Nick, Accredited Broker

Mikai is our BDM and she is a very detail oriented with great work ethic and speed. If there is a policy update, she will always try and get in touch with us as soon as possible to ensure that we received and understand the relevant changes so that we can better accommodate our clients. Thank you for your ongoing support to us brokers.

Terry, Accredited Broker

I wish to thank BDM kay yang of her excellent service to broker. She had been very patient with my scenario questions. Always prompt to reply and it was pleasant to work with her.

Victoria, Accredited Broker

It has been very convenient with the interest rates being lower also. Brighten home loan was able to solve so many problems for overseas clients. Big thanks to BDM Mikai for all her support.

Yuhui, Accredited Broker

I need to thank my BDM Liwen Liu. She has been very responsible since the beginning. She is always patient with my home loan scenario enquires. She always tries to do best for the clients. Liwen is very professional, always gives good advice to brokers. She is an excellent BDM. Thank you.

Jakie, Accredited Broker

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