Retirement lending for Finsure Brokers

The broker network of leading aggregator Finsure Group will be able to tap into more finance solutions for their senior clients, with Finsure announcing the addition of retirement lending specialist Household Capital to the Group’s lending panel.

Finsure CEO, Simon Bednar, said Household Capital enables Australian seniors to access their home equity to improve long-term retirement funding.

“We are thrilled to welcome Household Capital to the Finsure lending panel,” he said.

“The connection with Household Capital will enable our brokers to expand their customer base into a growing demographic and help them diversify their businesses. 

“Household Capital place a huge emphasis on customer service, and they are offering personalised broker and scenario support. Household Capital also offers a ‘spot and refer program’ where brokers can refer their clients to them, and Household Capital will take care of the rest while keeping the broker informed through the entire customer journey. Brokers then receive a referral fee of 0.3 per cent on settlement of the total approved amount, not just the drawn amount.”

Finsure’s Head of Operations, Kon Shizas, said Household Capital was servicing a growing percentage of the Australian population, with an estimated 4.2 million (16%) of Australians aged 65 and over, according to the Australian Bureau of Statistics.

“Providing lending solutions for borrowers 60 years and older has been a relatively small market in recent years, but it’s clear that with the demographic growing and people needing to plan for longer retirement more financial solutions will be needed,” he said.

Household Capital’s Distribution Executive, Esther Angrisano, said the company placed high importance on its support services.

“It’s no secret that the majority of brokers aren’t familiar with loan solutions for older customers,” she said.

“We want to guide brokers through the application process and help them better understand our innovative solutions and give them the opportunity to assist an underserviced customer demographic. 

“We work with our clients to improve their retirement lifestyle. This is achieved by enhancing retirement income, providing access to capital and improving retirement housing. Our approach aims to provide them with the best of both worlds – to continue living in the family home with the confidence to enjoy the retirement lifestyle they deserve.”