Basecorp gets more funding for short-term mortgages

Basecorp Finance has secured $50 million of additional funding capacity for its short-term mortgage programme with one of its key funding partners, with future appetite of up to $100 million.

“This facility sits alongside our existing short-term funding sources, and enhances our ability to continue to meet demand in this segment”, chief financial officer John Moody says.

“We have experienced a strong correlation between moves in interest rates and the demand for our products, and the programme positions the business to meet anticipated adviser demand for short-term loans over the next few years as interest rates fall and the cycle normalises.”

The facility builds upon recent tweaks to its products as Basecorp continues to widen the range of the products it offers to advisers, with commercial properties, bridging finance, and vacant land all seeing tweaks in 2024.