The decision by Experien, the specialist mortgage manager, to target the medical profession, appears to be paying off after it revealed that its loan book has grown to $500m in just 18 months of operation.

 

Speaking at the IQPC Mortgage Processing conference in Sydney in February, Ian St Vincent, Experien's senior manager for mortgages, said the focus had been on developing an "enhanced service for time poor doctors", including coming to their place of work at a time that suits them.

 

St Vincent said Experien had also focused on making its presence felt at medical conferences.

 

"We sponsor 320 conferences a year and all the doctors and dentists know us.

 

"We even talked at a specialist conference that only 15 doctors attended. One thing is for certain though…they will be taking a home loan with us," he said.

 

Experien, which is now owned by Investec Bank, gets the majority of its funding via Adelaide Bank.

For its doctor clients it provides specifically tailored products.

 

"We can take over their HECS debt through an unsecured line of credit loan, get them a lease for a new BMW, or help them finance buying a medical practice," St. Vincent explained.

 

"We focus on developing the best product for our market; we know doctors will need unsecured funds to grow their businesses," he added.

Besides products and services tailored for its clients, St Vincent said Experien also prided itself on its clean loan book, with none of its clients currently in arrears for 120, 90, 60 or even 30 days.