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Brokers surveyed on best non-bank products

by reporter4 minute read

With a rapidly changing lending landscape and new product innovations, The Adviser is asking brokers to rank the best non-bank products currently on offer.

The Adviser’s Broker Product of Choice: Non-Banks survey has launched, asking brokers for their thoughts and insights into which non-bank lenders are offering the best products for Australian borrowers.

The annual survey asks brokers to rank the top non-banks (lenders that are not authorised deposit-taking institutions) across 12 product and market segments.

Brokers will have the option of nominating up to three leading lenders per category, which includes: 

  • Best investor loans
  • Best specialist loans
  • Best debtor finance loans
  • Best equipment and asset finance loans
  • Best SME loans over $250,000
  • Best SME loans under $250,000
  • Best personal loans
  • Best short-term loans
  • Best prime owner-occupied loans
  • Best near-prime loans
  • Best SMSF loans
  • Best commercial mortgages

Responses are anonymous and will be aggregated to produce the results of a ranking, which will be published in the June edition of The Adviser magazine.

Speaking of the survey, the editor of The Adviser, Annie Kane, commented: “The ranking aims to give brokers the opportunity to highlight the non-bank lenders they think provide the best products across multiple market segments, and celebrate the lenders that are helping make more dreams come true for broker clients.

“It also provides peer-to-peer learning for brokers by signalling which lenders are leading the way to their fellow brokers.

“This questionnaire should take no longer than three minutes to complete and those completing the survey will go into the running to win a $500 Visa gift card.”

You can contribute to the 2022 survey through the link here.

What the 2021 survey found

In last year’s survey, brokers ranked Pepper Money particularly well – ranking it top across four categories: near-prime loans’ specialist loans; commercial mortgages and equipment and asset finance loans.

Resimac was named the lender with the best prime owner-occupied loans and prime investor loans once again, while Liberty Financial was named the non-bank with the best SME loans over $250,000 and best SMSF loans for the fourth year in a row.

Meanwhile, Grow Finance was a new entrant, taking out the first position for its debtor finance products, Prospa was top for short-term loans, Latitude came top for personal loans, and GetCapital (now known as Shift) was the top-ranked lender for SME loans under $250,000.

[Related: Best of the Non-Banks: Product of Choice]

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