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The move builds on RedZed’s integration of residential loan applications through the platform in November 2024, which reduced processing times and improved submission rates.
According to RedZed, processing times for residential loans dropped by 75 per cent, while submission rates surged from 30 per cent to 50 per cent within six months.
Specialising in self-employed Australians and small-business owners, RedZed said its expansion will support brokers managing more complex transactions across the commercial and SMSF lending space.
“We’re here to support brokers, and there is enormous potential in the commercial and SMSF spaces – we want to help our broker partners capitalise on this,” RedZed managing director Calvin Cordle said.
“Not only are we making our commercial and SMSF loans available for lodgement via ApplyOnline, but we’re also expanding our commercial team.
“This will enable us to offer more comprehensive support to brokers already operating in the commercial space, as well as those seeking to diversify.”
The ApplyOnline expansion marks the second phase of RedZed’s partnership with NextGen, following recent rate cuts and product improvements such as higher maximum LVRs and streamlined expense verification.
NextGen head of lender partnerships, Mike Ponsonby, said the shift from residential to commercial applications highlighted broader changes across the lending market.
“RedZed’s journey from residential to commercial applications on ApplyOnline reflects a broader industry shift toward broker diversification into commercial products as they look to grow their businesses and better serve their clients’ evolving needs,” Ponsonby said.
“RedZed’s remarkable efficiency gains with ApplyOnline for their residential loans demonstrate why we’re seeing more lenders recognise ApplyOnline as the go-to solution for streamlining applications across all loan types.
“Using familiar, proven platforms removes barriers and accelerates their ability to capitalise on these opportunities.”