3 Reasons  Finance Brokers Should Use a Non-Bank Lender to Secure Short-Term Property Loans

April 8, 2024 by
Credit Connect Group, CCG

Finance brokers play a vital role in Australia, helping their clients secure fast, flexible, short-term property loans for their borrowing needs. While most Australian finance brokers have many years of experience working with traditional banks, an increasing number of savvy finance brokers are turning to experienced, Non-Bank Lenders to secure the lending requirements they need for their clients' short-term loan needs.

Non-Bank Lenders have several advantages over traditional lending facilities that make them a compelling choice for finance brokers who need fast access to funds that may not be available via traditional banks, credit unions or building societies.  

In this article, we will explore three key reasons why finance brokers should consider using a non-bank lender, such as Credit Connect Group (CCG), to acquire finance for their client’s short-term property loan.

1. Faster Loan Approvals:

One of the most significant advantages of working with Non-Bank Lenders to secure short-term property loans is the speed at which they can approve their financing.  

Unlike traditional banks, which often have complex, bureaucratic processes, Non-Bank Lenders are more agile and streamlined. This means that when your client needs a short-term property loan quickly, a non-bank lender can provide a faster and more efficient loan approval process.

Non-Bank Lenders can also process applications faster because they have fewer layers of bureaucracy and decision-making to deal with allowing you to secure approval for your short-term property loan in a matter of hours or days rather than weeks or months.

2. Flexible Loan Options:

Non-Bank Lenders offer a wide range of products, including some that traditional banks may not provide. This flexibility can be a significant advantage when working with borrowing clients who have unique financial situations or specific requirements that traditional banks cannot assist with. Experienced Non-Bank Lenders, such as CCG, are able to cater to niche markets and can offer finance products and solutions tailored to the needs of different borrowers, especially those who require fast, flexible, short-term loans with no hidden costs.

Additionally, Non-Bank Lenders are often more willing to consider non-traditional forms of income, which can benefit clients who are self-employed or have irregular income sources. This flexibility allows finance brokers to match their clients with the most suitable lending options, resulting in higher client satisfaction and more closed deals.

3. Competitive Interest Rates:

Despite the perception that Non-Bank Lenders charge higher interest rates, they often offer competitive rates that can rival those of traditional banks, credit unions or Building Societies.  

This is because Non-Bank Lenders are not burdened by the same overhead costs and regulatory constraints that traditional banks face, allowing them to pass on cost savings to their borrowing clients in the form of competitive interest rates and fees.  

This is particularly important when you consider that many traditional banks have challenges offering short-term property loans as they often have a slower, manual process that can impact the short-term requirement. Non-Bank Lenders are also often more willing to negotiate rates and terms, making it easier for finance brokers to meet their clients' specific short-term property loan needs and financial goals.

Finance brokers can leverage these competitive rates to help their clients secure favourable loan terms, enhancing their own reputation and client relationships, and ultimately securing the short-term property loans required at a more competitive rate.  

Australian finance brokers should consider Australian Non-Bank Lenders as a valuable resource in their borrowing toolkit. The speed of loan approvals, flexibility in loan options, and competitive interest rates make Australian Non-Bank Lenders an attractive choice for both finance brokers and their clients looking to secure short-term property loans.

If you’re a Finance Broker with a loan you can’t fulfill via your usual financing sources, get in contact with us at CCG and we can help you with your scenario.

DISCLAIMER: The information provided in this article has been prepared by Credit Connect Group (CCG) for general education purposes only and is not intended to constitute specialist or personal advice. While every care has been taken regarding its accuracy no warranty is given or implied. The information contained herein does not constitute financial product advice and or an offer to invest. Investment can only be made by Sophisticated/wholesale investors as defined under the Corporations Act. Past results are not a guarantee of future performance. Investment into mortgages carries risk. We recommend that any investor obtain financial, legal, and taxation advice before making any investment with CCG. Copyright © Credit Connect Group. All rights reserved.

Share this post