Non-Bank And Specialist Lenders

  • Non-Bank And Specialist Lenders

Non-Bank And Specialist Lenders: Options When The Bank Says “No”

Not every borrower fits a major bank’s credit box, especially self-employed clients, recent migrants or those with credit issues.

A “no” from your bank does not always mean “never”

Specialist and non-bank lenders exist to solve specific borrower problems.

Suggested Sections

  • Who might need a specialist lender?
  • Self-employed with short trading history.
  • Past defaults or late payments.
  • Complex income or unusual security property.
  • Types of specialist loans
  • Alt-doc or low-doc loans for business owners.
  • Credit impairment products with structured pathways back to prime rates.
  • Pros and cons of non-bank and specialist lenders
  • Pros: More flexible criteria, tailored solutions.
  • Cons: Higher rates and fees in many cases, tighter exit conditions.
  • Strategy for “credit repair by design”
  • Use a specialist lender as a stepping stone.
  • Clear timeframes and behaviours needed to refinance to mainstream rates later.
  • Role of a broker in this space
  • Matching issues with appropriate solutions.
  • Explaining true total cost and exit plan.