Three reasons CCG is a good choice for brokers

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    With lenders tightening credit policy for some borrowers in response to the economic uncertainty of the pandemic, more and more brokers are being forced to think outside the square when it comes to finding a finance solution for their clients.

    MPA spoke with Credit Connect Group CEO Peter Benson about the benefits of lending through a P2P funder and why CCG is a good alternative to traditional lenders.

    Suited to borrowers outside the one-size-fits-all credit rules

    As a P2P lender, CCG offers personalised interest rates to each borrower as well as flexible loans. They do low doc loans as well as help non-conforming borrowers.

    According to Benson, funding is received fast and the group is transparent in its process with no hidden fees.

    “We deal with borrowers that don’t fit the one-size-fits-all credit rules that other banks have,” he says. “Our loans last for one to three years, not 30 years. So, once the term ends, brokers can refinance their client to another lender once their credit history has improved, or refinance with us.”

    He says anyone with a property to use as security is suited to lending through CCG. They offer loans from $50,000 to $80M and are a good choice for borrowers that need flexibility or a fast settlement.

    To support its customers, CCG is discounting establishment fees by 50% and reducing interest rates on some loans.

    Flexible lending

    Flexibility is something that sets CCG apart from other lenders in the COVID-19 environment.

    “While other Non-Banks have stopped lending for various loan types, we have not, as our funds don’t come from large institutions or mandates,” says Benson.

    “In this environment we are actively financing various loans. Banks have tightened their lending standards whereas we are flexible and always have been.”

    The broker’s champion

    One of the things that makes CCG an appealing choice for brokers is the fact that it can provide an answer to a loan scenario within one phone call or email.

    “Brokers won’t be waiting weeks like they would with anyone else,” says Benson.

    This is a key part of the lenders approach to working with brokers; Benson referring to the group as the “Broker’s Champion”.

    “Brokers can put us to the test. We can give an answer the day of enquiry.”

    P2P funding in a recession-prone environment

    Established in 2006, Benson maintains the lender has been through both the GFC and the Royal Commission, providing finance solutions when other lenders have retracted.

    “Our security is in real estate and people always need somewhere to live, no matter how the economy is performing,” he says.

    “Even during these times, people are still keen to buy and sell property.”

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    Original Article