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Finance Investment

Size does matter: RedZed increases mortgage limits available to self-employed Australians in the face of increasing house prices

RedZed 3 mins read

Rising property prices, the soaring cost of living and traditional lending approaches by the banks have made it increasingly difficult for the 2.4 million self-employed Australians to secure a mortgage, but that is now all set to change.


RedZed, one of Australia’s leading lenders to the self-employed, has announced that maximum loan sizes will increase across its flagship lending product, SE Prime, to $2.5m. In addition, it has introduced a premium new product, SE Prime XL, that will cater to self-employed Australians requiring home loans between $2.5 and $5M.


The changes come as home prices across Australia’s capital cities have increased by more than a third (33.9%) since March 2020, with high demand for property showing no signs of abating in the early months of 2024. Figures from CoreLogic also show that over the same period (March 2020 to December 2023), the cost of building a typical new dwelling has jumped 26.6 per cent nationally.


RedZed managing director Calvin Cordle said, “When RedZed launched in 2006, the median house price in Sydney was $523,000 and $352,000 in Melbourne, and we could offer loans up to a maximum of $2m. Fast forward to 2024, and median house prices have more than doubled.


“The banks are risk-averse and very rigid in assessing the creditworthiness of self-employed borrowers and their income and ability to service a loan. Being a specialist lender to the self-employed, we understand the intricacies of running a business, and we look at more than just the numbers on the annual tax return.


“As the market leader in self-employed lending, we always look for new ways to improve self-employed lives.


"Buying or renovating a home has become a lot more expensive, and the launch of our new SE Prime XL product will give the millions of successful self-employed across Australia access to up to $5m in finance for the first time.


"This gives consumers greater choice and flexibility, allowing thousands of self-employed Australians to purchase the home of their dreams, which they so thoroughly deserve.


"Being self-employed takes hard work, courage and grit. It's only right that the people making such a huge contribution to our economy by providing services, products and jobs to fellow Aussies have a place to call home after hours," Cordell said.


To find out more go to:

About us:

About RedZed

RedZed was founded in 2006 with a clear vision to become the preferred lender to Australia’s self-employed. Since then, RedZed has loaned over $8.9 billion to more than 20,000 self-employed Australians via their residential, commercial and SMSF finance solutions, empowering small business owners to achieve their personal and business finance goals. With offices in Melbourne and Sydney, and Business Development Managers right around the country, RedZed employs more than 140 people nationwide.

With more than 90% of its customer base comprising self-employed borrowers, many of whom have been operating their businesses for more than five years, RedZed understands its clients’ unique needs. Having originated in excess of A$8.9 billion in residential and commercial mortgages and A$3 billion in assets under management, RedZed has a proven track record of originating high-quality loan portfolios.

 RedZed primarily sources its competitively priced funds from the term and warehouse markets domestically and offshore. Since its inception, RedZed has issued more than A$7.1 billion worth of term debt market securities to Australian and offshore investors. The RedZed securitisation program complies with risk-retention requirements and all transactions under the program to date have been called at their first available call option date.

As the major partner of the Melbourne Storm National Rugby League team, principal partner of the Hobart Hurricanes Big Bash League cricket team, and principal partner of the North Melbourne Australian Rules Football Club, RedZed has established a prominent brand presence throughout Australia.

Contact details:

Paul Wickham

Boxing Clever

M: +61 412 398 489



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