Kogan launches home loan products

Kogan launches home loan products
Kogan launches home loan products

Online retailer Kogan is set to launch a range of home loan products.

The new product, which will be called Kogan Money, will partner with Adelaide Bank and Pepper to offer the loans.

David Shafer, executive director at Kogan.com, said the partnerships with Adelaide Bank and Pepper to launch Kogan Money Home Loans will help Aussie homeowners.

"Kogan is excited to partner with Adelaide Bank and Pepper to enable us to offer Aussies a range of competitively price home loans available online," Shafer said.

“Adelaide Bank has a long history of partnering with innovative brands and businesses that bring greater choice and diversity to consumers."

“Pepper is the leader in alternative lending in Australia and, since 2001, has been helping Aussies who may not tick all the traditional boxes for home loans to get financing.

“With well over a million active customers, Kogan.com is proud to be able to form partnerships like these that form a genuine win-win-win for both Adelaide Bank and Pepper, for Kogan’s shareholders, and most importantly for Kogan.com customers.”

Kogan has nearly $1.4 million customers, growing by 45 percent from last year.

Last month they posted a 277 percent rise in full year profit to $14.11 million, up more than $10 million from last year. Revenue soared by 42 percent to $412.31 million.

Kogan's announcement highlighted these key areas of the agreement.

- Kogan Money Home Loans will focus on offering competitive home loan products to homeowners and investors.

- Adelaide Bank will make available competitively priced conforming, or prime, home loans

- Pepper will make available competitive near prime, non-conforming or specialist, home loans.

- Branding, marketing and customer acquisition will be provided by Kogan.com

- Kogan.com will earn fees on all home loans.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Home Loans Mortgage Rate

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