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Lender Q & A: John Mohnacheff

by Reporter10 minute read
The Adviser

The Adviser sits down with Liberty Financial's national sales manager John Mohnacheff to discuss the importance of brokers maintaining good relationships with the non-bank sector

 Q1. How important is it for brokers to maintain a good relationship with the non-bank sector?

It is very important that brokers diversify their relationships and maintain great relationships with non-banks, so they are able to take advantage of opportunities as and when they arise. Topically, APRA’s recent actions could create a tremendous opportunity for brokers to experience the benefi ts of non-bank offerings.

Importantly, most non-bank lenders are predominantly focused on working with thirdparty brokers. Therefore, the broking industry can work with non-banks to expand its capability to significantly improve business results and customer satisfaction.


Q2. What is the tangible benefit of brokers supporting the non-bank sector?

Product innovation. The more brokers that support the non-bank sector, the stronger the impetus is for product, service and technology innovation. What must also be remembered is that all the majors decreased their commissions, some dramatically; however, Liberty never once withdrew its support to this sector.

Q3. Does Liberty have any funding advantage in the market?

Liberty is the only non-bank that is investment-grade-rated, which allows it to source funds more broadly than only through securitisation. This ensures Liberty remains strongly positioned amongst the non-banks to continue providing a reliable and steady source of funding for our broker partners.

Q4. What makes Liberty unique?

Liberty Financial has one of the broadest and deepest lending appetites of most lenders. As well as having a broad range of home loan and motor vehicle finance products, Liberty also offers award-winning commercial and SMSF lending products. Liberty was one of the first companies to bring all these asset classes specifically to the broker market.

Q5. Non-banks are often thought of as a lender of last resort. How far from the truth is this perception?

Regretfully, some still have this perception and it is very unfortunate given the unique benefits that only non-banks can provide. However, top brokers have always maintained relationships with non-banks and more brokers are now catching on. Fortunately, we no longer treat people who have special needs as non-creditworthy.

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