Why Use a Non-Bank Lender?

When a homebuyer requires a mortgage to purchase a home, they have some lending institution options. In Australia, banks hold over half of the outstanding home loans. Other options include lending societies, credit unions, and non-bank lenders. Opting for a non-bank lender offers several advantages.

Most homebuyers apply for a mortgage where they bank. This provides convenience. The difference between a bank and a non-bank lender is that the latter does not work with customer deposits. Mortgage House is a non-bank lender. Since 1986, we have provided competitive loan terms to our clients. Moreover, we help them achieve their financial goals. For example, as a Mortgage House client, you receive access to additional loan products including our car loan. Plus, when you seek to renovate, relocate, or sell your home, we offer bridging and relocation loans.

Generally speaking: If one qualifies for a bank loan, non banks will certainly be able to offer a lower rate and if one does not qualify for a bank loan, a non bank will be more likely to be able to find a solution to fit. In addition, we have the freedom to employ innovative tools. We understand that first-time homebuyers have more difficulty saving a 20% deposit in 2022. That’s why we offer family pledge mortgages that increase the homebuyer’s borrowing power and capacity.

We also work with investors. Banks see some projects as too risky. Mortgage House loan specialists can efficiently assess applications and provide a set of loan terms that compete with the banks. We offer several advantages.

Non-Bank Lender Advantages Conclusion

Homebuyers will find that a non-bank lender such as Mortgage House offers competitive rates. We also offer alternative home loan products to those who fall short in the financial requirements. Contact our loan specialists today.