The Adviser’s Third-Party Lending Report – Non-Major Banks has named the best lenders in the business, voted by almost 800 mortgage brokers.
Each non-bank lender was assessed on its products, service and commission.
Pepper was the top-ranked non-bank lender in the specialist lending category. With more than 90 per cent of the group’s loans being written by brokers, Pepper’s director of sales and distribution, Mario Rehayem, said the lender is focused on providing the third-party channel with the most innovative products, competitive rates and market-leading turnaround times.
In the commercial lenders category, Australian First Mortgage (AFM) took out the top spot after the group simplified its commercial offering in the last 12 months.
“While we have not promoted our commercial program extensively over the past 12 months, we have pushed our offering through our business managers in all states,” AFM managing director Tanya White said.
“We have also streamlined the process for our brokers on all commercial inquiries so they need only complete our commercial loan inquiry form, which is a one-page summary of the deal that doesn’t require any customer signatures.”
NLG Leasing was the winner among the equipment, leasing and business finance lenders. The group’s director of aggregation services, Frank Crombie, said the result coincides with NLG Leasing’s expansion, as it looks to increase its product portfolio and become the leading provider of asset and equipment finance in Australia.
Scottish Pacific CEO Peter Langham said he was “absolutely delighted” to be recognised by the broking community as the nation’s best cash flow and debtor finance lender.
“Brokers are key introducers for us,” he said. “So it’s pleasing to have this official endorsement by brokers voting us best cash flow and debtor finance lender of the third year straight.”
ASX-listed non-bank lender Homeloans was the top-ranked mortgage manager this year. Ray Hair, Homeloans’ general manager of national sales, said the group’s BDMs, local credit teams and committed customer service team have worked together closely over the past 12 months to ensure brokers receive an end-to-end servicer that promotes them in the eyes of their customers.
Last but not least, Assetline took the top spot in the short-term lender category. Nick Raphaely, co-founder of Assetline, said the lender has been actively promoting its services to brokers over the last 12 months and meeting loan writers at industry events.
Congratulations to all the non-banks who made it into this year’s ranking, and a big thank-you to all brokers who participated in the survey.
Click here to read the full report.