For those unfamiliar, a white label loan is essentially a home branded loan. Just like your favourite home brand products you see in supermarket aisles there is more than meets the eye – the white label loan is more than its competitive price tag. White label products are high quality and are developed by leading lenders – they are just packaged differently and therefore available at a sharper rate.

White label loans are exclusively available through mortgage brokers and have rapidly grown in popularity over the past few years. So much so that over 85% of brokers now have a white label offering for their clients. As brokers and customers both demand more from white label, the products have evolved to be about much more than price, to also focus on flexibility, service and quality.

Flexibility

There is a range of choice in white label – you can get variable, fixed or combo rate loans. They are particularly suitable for home buyers looking for a simple, straightforward product as through white label you can have access to the loan features you need (like redraw, debit card access and a customer care facility) and you don’t have to pay for bells and whistles you won’t use.

Service

In addition, service is increasingly becoming a differentiator for white label. Sourcing a home loan can be the biggest financial decision a person ever makes and understandably then, customers demand support from their brokers and rely on them as trusted advisers to guide them through the process.

A common misconception is that because the loan’s rate is more competitive, it does not come with the same level of support. Through a white label loan, brokers can still access dedicated support teams – and ultimately give their customers quick responses to their queries and every chance of first touch unconditional approval.

Quality

Essentially, white label delivers many of the same great features as bank branded home loans, but for a lower cost to the customer. The quality remains the same, and the growing popularity of white label is evidence that consumers are tapping into the opportunity and high value of this product.

If you’re not sure if white label is right for you, your mortgage broker can help you with this important decision. Because brokers have access to a myriad of loans from a range of different lenders – you can receive unbiased advice based on their expertise and experience in the industry.