Rate Money elevates product suite with new construction loan

May 2, 2024 | Ryan Gair

Media Release

In a move that will bolster Australia’s residential construction industry while bringing to life the dreams and aspirations of Australia’s 2 million self-employed and their families, Rate Money, the home for the self-employed, has introduced the Elevate Construction loan to its product suite.

Rate Money, CEO Ryan Gair said, “In every challenge lies an opportunity, and at Rate Money, we’re passionate about turning those opportunities into realities. Elevate Construction is more than just a loan; it’s a gateway to build that dream renovation or new build that has been out of reach for many.

“The challenging environment for private dwelling construction continues, with approvals at levels unseen since 2013, due to stringent lending criteria and economic headwinds. In response, in partnership with our franchise and referral partner network, we have developed an Alt and Full doc construction loan solution with market leading interest rates and lower fees for hard-working Australians. A 30-year loan term includes an additional 18 months for construction, a feature that is not typically included by other lenders.”

Building on Rate Money’s commitment to environmentally responsible lending practices, the loan also features a green discount, whereby properties meeting or exceeding NatHERS 7 star rating will be eligible for a 0.20% green discount on the standard rate.

“We understand the gaps in the market, especially for the self-employed sector, and we’ve tailored our solutions to bridge these gaps. With over $7 billion in settlements in just under five years, we pride ourselves on market-leading product innovations across our portfolio, including eliminating clawbacks, application fees, valuation fees and risk fees. We are unwavering in our commitment to addressing the unique needs of this often-overlooked demographic.

“Our franchise business model is strengthened by these innovations, equipping them and our referral partners with the tools to widen their customer base and service different segments of the self-employed market,” Mr Gair said.

The Elevate Construction loan also simplifies the process for referral partners by managing progress payments, a significant advantage for mortgage brokers.

“Our entrance into this space is timely, considering the complexities involved in construction loan securitisation and the scarcity of such products in the current market,” added Mr Gair.

Explore how you can build better futures with Elevate Construction, either as a Rate Money Franchisee or Referral Partner, visit www.elevateconstruction.net.au

Media Enquiries
Rachel Edwards
0497 850 038

About Rate Money
As an award-winning home loan provider specialising in self-employed lending, Rate Money has achieved remarkable success with a widespread presence spanning 32 franchises nationwide. Settling over $7 billion in settlements in just under five years, Rate Money stands out for its market-leading product innovations, particularly in eliminating clawbacks, application fees, valuation fees and risk fees for self-employed Alt doc customers. This bold move underscores Rate Money’s unwavering commitment to addressing the unique needs of this often-overlooked demographic.

Driven by a vision of continuous improvement, Rate Money remains dedicated to enhancing the customer experience by streamlining processes and delivering tailored solutions that cater to the specific requirements of self-employed individuals.

Rate Money has earned a reputation as a trusted industry partner through its innovative approach and relentless dedication to customer satisfaction. As it continues to expand its reach and influence, Rate Money remains firmly committed to providing cutting-edge solutions that empower self-employed individuals on their financial journey. With a firm focus on innovation, Rate Money is poised to remain a leader in the financial services landscape for years to come.

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