13/09/2024
The survey highlights the growing prominence of non-bank lenders in offering flexible and innovative financial products.
Non-bank lenders are praised for their personalised service, quick decision-making, and advanced technology, which contrasts with banks’ more cautious approach in a rising-rate environment.
The survey, conducted from January 29 to February 26, 2024, involved 226 brokers evaluating non-bank lenders across 12 product categories.
The results reveal a broad range of well-regarded non-bank lenders, with Pepper Money leading in Near-prime and Specialist loans, and Prospa topping SME loans under $250,000 and short-term loans.
Other notable lenders include Liberty Financial (Prime Owner-Occupied loans), La Trobe Financial (Commercial mortgages), ScotPac (Debtor finance), Plenti (Personal loans), Resimac (Investor loans), Latitude (Equipment and asset finance), Banjo Loans (SME loans over $250,000), and Mortgage Ezy (SMSF loans).
The survey underscores the competitive nature and innovation among non-bank lenders in the financial market.
As both a mortgage manager and private lender, FINSTREET offer significant advantages for brokers seeking tailored solutions for their clients across many of the niches outlined above.
Leverage our expertise and save time by partnering with us for all your non-bank solutions – reach out for a chat!
