Firstmac Breaks $9 Billion Barrier

Australia’s largest non-bank lender Firstmac has added more than one billion dollars to its loan book in just four months, taking it past $9 billion in mortgages under management.

The milestone follows three consecutive months of record broker settlements and high numbers of new broker accreditations.

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08 Jul 2015

Lower cost loans for low-emission vehicles in $50m deal

Loans will be cheaper for low emission vehicles under a landmark $50 million agreement between Firstmac and the Clean Energy Finance Corporation.

Under the agreement, which takes effect this week, additional finance will also be available for solar installations, new business equipment, and energy-saving building upgrades.

“This is great news for anyone who wants to drive a new-generation low emission vehicle, or save on energy costs by installing solar,” said Firstmac Managing Director, Mr Kim Cannon.

“Firstmac is very pleased to be working with CEFC to deliver this initiative which will save customers money and result in reduced carbon emissions.”

CEFC CEO, Mr Oliver Yates, said the asset finance partnership comes at an important time for Australian consumers and businesses.

“Australians want to get better control of their energy costs. With the right equipment, homes and businesses can benefit from cutting their energy bills while reducing emissions,” Mr Yates said.

“The benefits of the CEFC financing will flow through to Firstmac’s customers, supporting business and private investment in clean technology.”

Mr Cannon said approximately half of the $50 million would be used to fund discounted loans for low emission vehicles.

“There is a long list of new generation cars and light commercial vehicles that are considered low emission that will be eligible for finance under this agreement,” Mr Cannon said.

“The options range from people movers to compact cars, which means a lot of people are going to be able to access a lower cost car loan or lease, including fleet buyers.”

About the CEFC

The Clean Energy Finance Corporation (CEFC) invests using a commercial approach to overcome market barriers and mobilise investment in renewable energy, energy efficiency and low emissions technologies.

As at 30 June 2014, the CEFC had contracted investments of over $900 million in projects with a total value of over $3 billion. The CEFC operates under the Clean Energy Finance Corporation Act 2012. More information is available at www.cleanenergyfinancecorp.com.au

For trade enquiries, please email James Garrett, Head of Asset Finance Sales, at james.garrett@firstmac.com.au

Media contact: Duncan Macfarlane | duncan.macfarlane@firstmac.com.au  | 0434 184 264