What is a white label home loan?
A white-label loan is essentially a home-branded loan, much like the home-branded products you see in supermarkets. Like these products, white-label loans aim to deliver many of the same great features as bank-branded home loans, but for a lower cost to you the customer.
We have seen the quality of white-label groceries increase over time and this is similar to that of the loan industry. It has continued to the extent that white-label loans are now of equal or close to the quality of the bank-branded options.
Why you should consider a white label loan…
- Simplicity is key in white-label products, and they are perfect for home-buyers looking for a straight forward variable or fixed rate loan.
- White-label loans are quality, cost-effective and flexible. They offer you all the features you need (like redraw, debit card access and a customer care facility) in a home loan, and you don’t have to pay for additional features you are unlikely to use.
- Through white-label, you essentially receive a better deal because it’s not branded with the name of a big bank and doesn’t carry the cost of providing access to an expensive branch network that you may not need. It’s like a reward for shopping around and doing your research through a broker.
- You can only access white-label loans through your broker – this means you are getting access to a product many in the market aren’t aware of, and you can take advantage of your broker’s expertise and guidance.
- Saving on price does not mean you are compromising on quality or service. Through white-label, you still get access to expert support teams and the facilities to give you quick turnaround times.
If you want to find out more, please contact The Bare Broker.