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The policy change applies to eligible full-doc, lease-doc and alt-doc transactions, with expanded postcode coverage in selected markets across Canberra, Adelaide, Perth, Hobart, the Gold Coast, Sunshine Coast, Newcastle, the Central Coast, Wollongong and Geelong.
ORDE Financial said the expansion reflected increasing demand from brokers supporting clients purchasing commercial property, investing through SMSFs and growing businesses beyond the major east coast capitals.
The expanded postcode coverage forms part of ORDE’s ongoing review of its lending policies in response to broker feedback and evolving borrower needs.
Demographic shifts drive focus on growth corridors
The expansion follows ORDE Financial’s “Building Futures” events, where demographer Bernard Salt AM presented research into Australia’s changing population and workforce.
The research highlighted how population growth, changing workforce dynamics and the rise of the business owner-manager are reshaping demand for finance, creating opportunities across residential and commercial lending.
It also highlighted the growing importance of regional commercial centres and emerging growth corridors, as businesses and borrowers increasingly look beyond Australia’s major capital cities.
Lee Prior, director of distribution at ORDE, said the change reflected the growing number of borrowers pursuing opportunities across these growth corridors.
“Our Outlook Australia research with Bernard Salt highlighted the growing importance of Australia's growth corridors and regional commercial centres. That's exactly where many brokers are seeing opportunities emerge,” Prior said.
“More brokers are helping clients invest, purchase commercial property and grow businesses beyond the traditional major capitals, and our lending policy needs to evolve alongside that demand.
“Access to 80 per cent LVR can make a real difference for businesses and investors looking to act on opportunities in these markets, which is why we've expanded support across a broader range of locations.”
[Related: Broker policy round-up: Lender changes at a glance 18–25 September]
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