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Brokers back non-banks

Staff Reporter 4 minute read

Jessica Darnbrough

More than 80 per cent of brokers plan to recommend non-bank products to their clients, according to The Adviser's latest quarterly sentiment survey.

Over the last two years, the sentiment survey has shown growing support among brokers towards the non-bank sector, as the financial landscape continues to improve post GFC.

In the Q3 survey, 81.8 per cent of brokers said they would recommend non-bank products to their clients over the coming quarter – up 6.5 per cent on this time last year.

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Another independent survey commissioned by Homeloans Ltd has supported the survey’s latest findings, with 82 per cent of brokers indicating that non-bank lenders offer a competitive alternative to the majors.

Homeloans’ general manager of third party distribution Tony Carn said the results clearly reflect the industry’s confidence in the non-bank sector.

“Rather than being amongst a minority of specialist lenders, companies such as Homeloans are now perceived as being a very real alternative to the banks. And in the past 12 months we’ve been focused on changing how we are positioned in the market to capitalise on this sentiment," he said.

Brokers back non-banks
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