Partnership could provide 300,000 people with finance solutions per year

  • Trail not main target, but royal commission still concerned about remuneration

    "Remuneration for intermediaries … has been an important contributor to misconduct"

  • Aussie parents willing to sacrifice savings and luxuries to help kids own first home

    Tougher mortgage lending standards are making it "increasingly difficult" for young first homeowners


    • 2018 Commercial Lenders Roundtable
    • Top 10 Brokerages 2018
    • 2018 Brokers on Aggregators

    Real estate group Starr Partners recently formed a strategic partnership with mortgage broking company Shore Financial to be able to offer competitive home loans to its customers.

    Through the partnership, Starr Partners, an established network of 31 real estate offices across New South Wales, can now provide a wider range of property-related services by referring customers with financial needs to over 50 home loan specialists.

    Launched in 2013, Shore Financial employs “a multifaceted specialised team that includes a centralised processing team, a legal department, risk and general insurance specialists, commercial lending specialists, and car and asset financing lenders”.

    Shore Financial has more than 30 different banks and lenders in its portfolio, and manages over $200m applications a month, amounting to $2.8bn a year.

    In an interview with MPA, Shore Financial CEO Theo Chambers said the partnership is an opportunity for the brokerage to provide financial assistance to Starr Partners’ clients and buyers, and to streamline the home buying process by making sure every buyer that goes through the real estate group is approved and organised enough to auction.

    According to Chambers, Starr Partners sells close to 3,000 properties, and if there are a hundred buyers going through each of its properties throughout the year, Shore Financial can reach out to potentially around 300,000 people with finance solutions.

    “Our goal is to help people create wealth through properties. We’re not just a mortgage business that’s about offering the cheapest rate, we’re a mortgage business that gives advice on creating wealth through properties,” Chambers said. “And I think we can really do that with real estate partners like Starr Partners.”

    Related stories:

    • What's behind fintech's rapid rise in Australia?
    • Loan Market creates new senior role to optimise business partnerships

    Original Article