Resisting The Big Banks By Mike Pero

Let’s face it, the major banks have a big piece of the financial pie.

To prove it, ask a friend, family member or the person sitting next to you, to count on two hands how many lenders they can name that offer home or personal loans. The vast majority would struggle to get past their first hand. So where does this leave non-bank lenders and why should you consider them for your next loan?

Quite simply, non-bank lenders are worth considering as they offer a greater range of options and flexibility, as well as a more personalised service. Non-banks know they have to be different in order to gain market share, so they often offer very competitive like-for-like products and more tailored loans, including for those who may not fit the rigid criteria the big banks require.

Non-bank lenders are able to offer real points of difference to a wider variety of customers - be it on rates, features, fees, or service. Whatever your borrowing needs - whether they are low deposit, unusual employment or income, or credit issues - they are readily able to offer a product fit for you and your personal circumstances.

So, if you’re in the market and looking at home finance options, try to include a non-bank lender in your product shopping cart. If nothing else, they will give you a good comparison of all the options available to you. Many borrowers end up going with a non-bank lender as they find the savings, service or flexibility are too good to pass up.

If you want to find out more about your options, contact a Mike Pero Adviser for a chat. They have access to a broad range of bank and non-bank home loan lenders, and will be able to provide you with a clear and accurate comparison of all your options.

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