Why More Australians Are Turning to Non-Bank Lenders
More Australians than ever are turning to alternative lenders, with the sector forecast to grow at around 13% annually through to 2029.
according to new industry research from ResearchAndMarkets.com. The driving force is not hard to identify – traditional banks are leaving a growing number of borrowers underserved, particularly self-employed business owners and those with more complex financial situations.
Non-bank lenders are increasingly stepping in to fill that gap.
They assess applications differently and move faster than traditional lenders. They are also built to handle scenarios that mainstream banks routinely decline, whether that is self-employed income, a credit impairment, an unusual property type or a business finance need.
Advances in financial data and open banking are also making it easier for non-bank lenders to assess a borrower’s true financial position, rather than relying solely on the rigid criteria that often sees creditworthy borrowers turned away by the major banks.
Direct Credit Home Loans is an experienced non-bank lender helping borrowers that banks say no to. Whether you are self-employed, credit-impaired or simply need a faster, more personalised approach, our team is ready to help.
We specialise in helping self-employed borrowers.
Our experienced staff will assess your application on its merits, not according to rigid criteria. So if you’re credit-worthy, we’ll back you.
We love helping Australians buy property.
Call us on (07) 3726 1124 or email [email protected] to discuss your scenario directly with our credit team.