When borrowers require lending solutions that go beyond the standard, non-bank lenders consistently rise to the occasion. In an environment marked by reduced serviceability, rapidly changing interest rates, and more complex borrowing needs, being able to provide a solution to borrowers, and quickly, is of paramount importance.
This shift presents a significant advantage for non-banks, renowned for their capacity to deliver flexible lending options. Their structure often allows for direct access to key decision-makers, such as credit specialists and approval team members, facilitating quicker turnaround times and a more individualised assessment of loan applications.
Furthermore, the increasing investment in technology within the non-bank sector, including the adoption of AI-powered decision engines, coupled with streamlined accreditation processes, is making it exceptionally easy for brokers to conduct business with this segment.
The current competitive intensity among non-bank lenders is driving continuous innovation in their product offerings, ultimately benefiting borrowers. But who is coming out on top?
In order to identify the non-bank lenders that brokers most frequently recommend for their clients’ diverse residential, business, and personal finance needs, The Adviser once again partnered with Agile Market Intelligence.
The 2025 Product of Choice: Non-Banks Survey, conducted between 22 April and 1 May, engaged 146 brokers who meticulously evaluated and ranked non-bank lender products based on their preferences.
This year’s comprehensive survey asked brokers to rank non-bank lenders across 12 crucial product categories:
• Prime owner-occupied loans
• Near-prime loans
• Investor loans
• Specialist loans
• Personal loans
• Short-term loans
• SME loans over $250,000
• SME loans under $250,000
• SMSF loans
• Commercial mortgages
• Debtor finance loans
• Equipment and asset finance loans
A notable shift from previous years is the narrower spectrum of non-bank lenders favoured by brokers. This year, a total of seven lenders secured top rankings across the 12 categories, with the competition more concentrated across players this year than in previous years.
Pepper Money scored a hat-trick this year, after being ranked first for investor loans, near-prime loans, and equipment and asset finance loans by brokers.
Liberty, Prospa, and Resimac all took out two places each, with Liberty achieving the top ranking for SMSF loans and SME loans over $250,000, Resimac securing first place for prime owner-occupied loans and specialist loans, while Prospa came out on top for SME loans under $250,000 and short-term loans.
Plenti was ranked first for personal loans. ScotPac was recognised as the top lender for debtor finance loans and La Trobe Financial was ranked first for commercial mortgages.
In the following pages, we delve into conversations with the top-ranked non-bank lenders in each category to uncover the key factors they believe contribute to their products’ popularity among brokers.
Methodology
The Adviser’s Non-Bank Product of Choice Survey was conducted between 22 April and 1 May 2025.
The survey asked brokers to provide their top three product providers for each of the categories.
A total of 146 responses were received.
The results were analysed with the scores totalled to identify the winners and highly commended product providers for each category.
