What Is the Difference Between a Bank and Non-Bank Financial Institution?
In Australia, several financial institutions can issue mortgages. The most common institution the public knows is the bank. Mortgage House is not a banking institution. Instead, we remain a non-bank financial institution that can fund home loan and other loan products.
The difference between a bank and Mortgage House is simple. We lend but we do not participate in accepting deposits from our clients. Our teams do not open and maintain checking and savings accounts for our clients. Instead, we accept and process payments for loans that our clients have with us.
Since our services remain focused on lending, we provide competitive rates. Plus, our services remain top-notch. We opened our doors in 1986. Our intention has always focused on innovation. We maintain our forward-thinking mindset. Our team has developed innovative tools that help our loan specialists process applications efficiently.
As a non-bank financial institution, we have the freedom that banks do not enjoy. Lending is part of their business model. But they remain risk-averse because they also service deposit accounts. Mortgage House does not put client deposits at risk. Thus, we can issue mortgages that carry more risk.
We also work with investors. Our team finds innovative ways to fund construction projects. We also help them fund the purchase of multi-unit buildings, dual occupancy properties, and single-family homes.
Non-Bank Financial Institution Conclusion
Non-bank financial institution Mortgage House has operated in the lending market since 1986. Our institution continues to expand and offer more innovative mortgage choice solutions. To start your application contact our loan specialists today.