These lenders generally serve borrowers who can’t meet the stringent criteria set by the mainstream leanders.
They can include the following:

• self employed
• have a chequred credit history/low credit score
• have a complex scenarios
• have a small deposit

These lenders can provide more flexible lending solutions often with a quicker approval process.

Two of the main forms of lending are:

• Private Mortgage Lenders – provide home loans often specialising in non-conforming loans or for borrowers that don’t meet the bank’s criteria
• Business Loans – short term loans and other tailored business funding solutions.

Non-bank lenders are lenders that offer banking services but don’t hold a banking license. They are regulated differently to a bank, allowing them to provide a wider range of loan products and more flexible terms. They provide borrowers who might not qualify for the traditional loans due to credit history, employment status and other factors. 

 Types of Non-Banking Lending: 

• Residential and Commercial – offer a range of mortgage products including home loan, investment loans and commercial property loans 
• Personal Loans – car loans and consumer finance products 
• Specialised Finance – some focus on niche markets providing finance for specific purposes like equipment finance, asset finance and development finance 

 Before you consider a non-bank lender you need to be aware their rates are generally higher than the traditional banks, loan terms and conditions may not be ideal with higher fees etc