Mortgage specialist Rate Money hits $4 billion in home loan settlements in just three years

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For immediate release, Monday 21 Nov 2022, Sydney, Australia: In just three years since its launch, award-winning mortgage franchise Rate Money has achieved a milestone $4 billion in settlements, helping over 4,000 self-employed and migrant Australians secure a home loan and get into the property investing market.


Combining more than 50 years’ experience in the mortgage sector Ryan Gair, Luke Sheales and Glenn Maynard launched Rate Money in 2019 to address a gap in the market where business owners, migrants and sole traders were being knocked-back or penalised for having alternative banking documentation. 


Committed to catering to hard working Australians, Rate Money bucks the trends that would see self-employed Australians suffer. This month alone, while lenders tighten their guidelines and raise their rates, Rate Money absorbed the 0.25% increase, passing on just 0.15% to their low-doc customers, and keeping their rates below 6%. This is on top of their regular offerings, of no risk fees or complex application hoops.


Ryan Gair, CEO and co-founder of Rate Money, says: “We’re extremely thrilled to have hit $4 billion in loan settlements in just three years, a milestone that gives us confidence our products are helping thousands of self-employed Australians to achieve their dream of home ownership.


“At Rate Money we believe self-employed people are the most reliable borrowers in the country, they’re hard workers who know how to make money, how to save, and how to scrimp in those tough times. They shouldn’t face tougher criteria because their financials are more complex and sometimes more unpredictable than a PAYG borrower. We trust them and our default rate of 0.5% for over 60 days is proof of their ability to service a home loan. 

“We will continue to provide a solution for self-employed Australians who will be facing even tougher criteria in the years to come.”