Non-bank appoints BDM, discusses refinancing
Assetline Capital has boosted its presence in Western and Southern Australia with the creation of a new role to service brokers.
Stacey Madejewski (pictured above left) has been appointed to the non-bank lender’s sales and distribution team as business development manager.
The non-bank lender, which provides property-backed finance solutions for property professionals and small to medium sized businesses, said that the newly created role formed a key part of its sales and distribution team, reinforcing its focus on delivering short and long term lending solutions for Australian borrowers.
With over 20 years’ experience in mortgage finance, including roles in lending and aggregation, Madejewski provides brokers with a point of contact on the ground.
Commenting on her appointment, Madejewski said that Assetline Capital had made a “huge impression” on the industry over the last 12 months, and that she was excited to be a part of the company’s future growth.
The appointment of a business development manager offers more opportunities for face-to-face support during the loan process, the non-bank lender said. This would ultimately lead to faster and easier approvals and better outcomes for brokers and their clients.
Assetline Capital national head of sales and distribution Royden D’Vaz (pictured above right) said that Madejewski was an “outstanding choice” for the role. She brings a high level of experience, a deep understanding of borrowers’ needs and a “strong and energetic focus” on developing business in the two states, he said.
Making it easier for brokers to do business
Madejewski said that experience showed that it was important to meet brokers face-to-face, as it provides the opportunity to workshop deals and assist with getting opportunities over the line.
“Having a business development manager on hand that they can meet with, allows brokers to solve more problems for their clients, and gives them greater certainty and confidence,” she said.
“I'm looking forward to helping brokers learn more about Assetline’s full suite of products including education and guidance for those more complex deals."
Brokers encouraged to consider alternative lenders for refinancing
According to ABS lending indicators, total external refinancing reached $20.2 billion in June, slightly below $21 billion in May, up 12.6% year-on-year.
Noting that refinancing levels had recently reached record highs, D’Vaz said that brokers who could find flexible refinancing solutions were likely to identify increased business opportunities.
“We are seeing a surge in refinance activity – borrowers who were previously with major lenders may find they don’t fit the criteria to refinance with the same or another major lender,” D’Vaz said. “For many the best option will be an alternative lender - and borrowers are already shifting.”
For example, borrowers may need short-term capital to buy time to get their financials up-to-date, putting them in a better position to refinance to a long-term loan, he said. Brokers with access to alternative lenders and their broader range of solutions are well positioned to meet these needs, he said.
“Because we have short-term capital finance and residential bridging loans as well as our long-term Horizon Mortgage, we can assess the feasibility of your client refinancing after their bridging term is over,” D’Vaz said.
With its expertise in construction, Assetline Capital is well-placed to understand if a proposed construction exit strategy would be satisfactory, he said.
Opportunities for brokers to add value
Amid interest rate rises and higher prices, D’Vaz said that small to medium sized businesses were particularly vulnerable, as they often lack the financial cushion of larger businesses.
Tightening lending criteria and declines in property values have presented increased challenges around getting finance approved, he said.
“Many business borrowers just need a temporary solution to reduce the pressure until the market stabilises,” he said.
D’Vaz said that Assetline Capital offered a range of short-term capital finance, from 3 months to 36 months, secured against residential or commercial property. As serviceability criteria for an unsecured business loan is typically narrow, these solutions make finance more accessible for SME borrowers, he said.
In July, Assetline Capital announced it had partnered with outsource Financial, to provide brokers with more short and long term finance options for clients. In May, the non-bank lender opened an office in Queensland.
What challenges and opportunities are you seeing for businesses operating in WA and SA? Share your thoughts in the comments section below.
