Basecorp enters commercial market
Basecorp Finance has added a commercial mortgage product to its line up with one of its key funding partners.
Friday, May 31st 2024, 10:06AM
This innovative offering evolves Basecorp from a one-stop shop for non-bank residential mortgages to a product range that encompasses all types of non-bank mortgage lending, as it continues to be a trusted source of non-bank financial solutions for advisers.
The move builds on Basecorp’s growth and funding successes over the last few years as it has built a mortgage book more than $1 billion. And while residential mortgages originated by advisers will remain the core focus, the new commercial mortgage product provides increased options for advisers in the ever-changing commercial property lending landscape.
“Advisers are the cornerstone of our success,” managing director Warren Mayall says.
“We understand the need for a competitively priced and flexible products that cater to the specific requirements of advisers and their customers.
“Our new commercial mortgage product offers further tools for advisers to deliver innovative solutions to their customers in this space and is one of the only non-bank commercial mortgage options in the market with maturities out to 20 years”.
The product caters to a wider range of commercial product types, including retail, industrial and office.
The focus is primarily “small ticket” with conservative LVR positions, and there are no ongoing covenants or reviews.
Like Basecorp’s approach to residential mortgages, fast turnarounds, efficiency, and simplicity remain a key focus.
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