Brighten innovates products and policies, propels growth

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Brighten is transforming the lending landscape with innovative products, efficient processes and advanced technology, empowering brokers and borrowers while setting new standards in the non-bank lending industry

IN THE evolving finance landscape, non-bank lenders like Brighten are steadily gaining ground, empowering brokers and customers to explore beyond traditional banks. Over the past year, Brighten has expanded its offerings and further strengthened its team, resulting in a remarkable 105% year-on-year increase in applications. This also signals a broader trend within the industry, where non-bank lenders are emerging as key players in providing effective financial solutions.

Brighten is an Australian owned and regulated non-bank lender. We are responsible for the origination, underwriting, servicing and funding of our mortgage portfolio. We have well-established warehouse-funding arrangements with multiple top-tier banks, two public RMBS programs and multiple wholesale credit funds to provide further funding diversification. Brighten’s comprehensive set of product offerings includes competitive home loans for prime and near prime borrowers and the self-employed, alternative-documentation loans and loans for ex-pats and non-residents.

Jason Azzopardi, Brighten

Brighten’s innovative approach has simplified lending, making it more accessible to a diverse range of borrowers with the introduction of new products, including a construction loan that features a seamless post-construction conversion process. Once construction is complete, the loan automatically reverts to a standard term loan, typically featuring a lower interest rate. This streamlined approach means borrowers can enjoy competitive rates without the burden of additional paperwork, offering a level of convenience that other lenders may overlook.

“Borrowing capacity has become a crucial part of the solution that brokers are trying to solve for consumers. Brighten has responded to this challenge by developing products and assessment criteria that help consumers navigate the complexities of buying property in a high-interest-rate market. This adaptability to changing market conditions is a key factor in Brighten’s growing popularity among brokers,” says Brighten chief executive Jason Azzopardi.

Brighten’s commitment to brokers extends beyond just offering competitive products and efficient service. Earlier this year, Brighten upgraded its cloud-based Broker Portal. The enhanced portal now offers real-time application tracking and online servicing calculations, which has accelerated the application process and reduced the pressures brokers face. Confidence in Brighten’s business model extends beyond brokers. In June, Brighten successfully closed its sixth public residential mortgage-backed securities transaction, backed by prime resident and non-resident residential mortgage loans. The deal was oversubscribed and upsized from the initial launch of $318 million to $530 million, a testament to the credit risk disciplines embedded within the brand.

Brighten has recently moved into new offices at Chifley Tower in Sydney, marking another milestone in its ongoing growth and unwavering commitment to brokers. This strategic expansion reflects Brighten’s dedication to enhancing accessibility and providing superior support to valued partners. The state-of-the-art facility in the heart of Sydney’s financial district will enable Brighten to better serve its brokers with more resources, closer collaboration and a stronger presence in the industry. “Opening our new office at Chifley Tower is a testament to Brighten’s remarkable growth and our steadfast commitment to our people and our partners,” says Azzopardi. “This new location not only further strengthens our presence in Sydney but also enhances our ability to provide exceptional support and resources to our partners. We are dedicated to fostering strong, collaborative relationships that drive mutual success, and this new office is a part of that commitment.”

“We’ve seen a 105% year-on-year increase in applications, driven by our effective lending solutions and superior service standards, solidifying Brighten as the lender of choice for brokers and borrowers”

How Brighten is reshaping the non-bank lending landscape

Driving growth through innovation in products and technology

Published 16 Sep 2024

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Full Doc, Alt Doc, Near Prime, Construction, Bridging, Expat/Non-Resident and Commercial Loans

Why choose Brighten

As Brighten looks to the future, its vision remains clear: to be the lender of choice for brokers, driven by a commitment to innovation, technology and unrivalled support. The company’s recent accolades, including the Australian Broker 5-Star Mortgage Innovators award for the second consecutive year in 2024, serve as a testament to its growing influence in the non-bank lending sector.

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Additionally, Brighten launched a Bridging Loan product to alleviate the stress of simultaneously buying and selling homes, providing a short-term finance solution that has quickly become an essential tool for brokers helping their clients navigate seamless upsizing or downsizing. In the past year, Brighten has also made a sweep of policy enhancements, including an increase in maximum loan sizes – up to $5 million for residential products and $5 million for bridging loans – along with reductions in assessment rates and streamlined verification processes. These changes make lending more accessible, which is particularly relevant in the current high-interest-rate environment.

Applications assessed on merits by Sydney-based credit team Existing debts assessed at 125% of actual repayments Unlimited cash out up to 80% LVR Fully assessed pre-approvals

“Brighten’s innovative approach has simplified lending by offering solution-based, competitive products with market-leading pricing and quick turnaround times, attracting a diverse range of borrowers and setting a new industry standard for non-banks”

Jason Azzopardi, Brighten

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