There couldn’t be a better time for non-bank lenders to make their mark on the mortgage space, one industry stakeholder has claimed.
Speaking to The Adviser, Liberty’s Brendan O’Donnell said there is a distinct lack of competition in the market and consumers are crying out for something different.
“People want choice. So, if you have the funding, now is a great time to enter the market,” he said.
“Credit growth has slowed, but there are still plenty of business opportunities out there.”
As such, Mr O’Donnell said it made sense for Liberty to expand its presence in the mortgage market through Liberty Network Services.
“Liberty has stood the test of time, we went through the GFC pretty unscathed, we have continued to lend albeit lower. We have come out the other side of the GFC and are now starting to enjoy some pretty good growth. We are well funded and we are ready to grow,” he said.
“Often people wonder why you would choose to enter the market when times are tough, it is probably the best time to go into market.”
Liberty Network Services, the new retail distribution channel of Liberty Financial, officially launched this month.
The retail channel will allow Liberty advisers to open their own Liberty store if they wish, with full support provided by Liberty Financial.