Rate Money has announced it has passed the symbolic $1 billion mark for settled loans.

The specialist lender, which deals predominantly in lending to self-employed Australians, was delighted to be able to announce the milestone after just 18 months of operation.

“Achievement in my eyes is an understatement,” said Ryan Gair, CEO at Rate Money. “It’s more than an achievement, it’s record breaking.”

“I don’t know too many mortgage managers from a stand-up start that can say they have settled $1 billion in loans, let alone a book value of over a billion dollars within their first 18 months.”

“This shows how instrumental our branch network is, in understanding not just our customer and our referral network, but how well-oiled the organisation is that we can run so smoothly as a unit, to follow one goal and one dream, and that is to become the best self-employed lender in Australia.”

The broker channel has been vital to the success of Rate Money.

“Brokers are an incredibly important part of our business,” said Gair. “They see the uniqueness of our products and buy in to the energy, knowledge, and attitude of our people.”

“We are self-employed, like they are, and are focused on achieving positive outcomes and delivering the best results possible for our introducers and their customers.”

“Mortgage management was seen to be old, boring; nothing was innovative about it. It’s been the same old brands, badging the same old products and the same wholesale funders, nothing new.”

“We took a collaborative approach with our funders and helped tweak existing products, building new ones to meet gaps and growing needs and challenges faced by self-employed customers.”

“We are always trying new and different things to give a cutting edge and uniqueness to our product offering. Not just with products, our marketing, and our view on how to grow businesses and how we want to be seen throughout the marketplace.”

“Our marketing is different its vibrant, our products are the same, they are exciting and something that the market has never seen before. Even when it has been seen before we try and push that product to make it even better and cheaper for the self-employed people of Australia.”

“We knew if we collaborated with our funders, and delivered quality business, we could support our introducers (brokers), our network (branches and staff) and the end customer. Thankfully, the funders believed in us and have been incredibly supportive.”

by Mike Wood