Finding love with a non-bank lender

by Ksenia Stepanova22 Aug 2018

Over 120 mortgage advisers flocked to the Non-Bank Speed Date event held this August – and no, this was not an event for lonely singles in your area.

With mainstream banks increasingly shutting their doors in the faces of buyers, five non-bank lenders including Avanti, Bluestone, First Mortgage Trust, Liberty and RESIMAC gathered together to discuss how to raise awareness of alternative lending. The solution – a speed dating event to help mortgage advisers stay informed on the non-bank options available.

The organisers say the industry-first event was a hit, and plans are underway to repeat the event in more locations across New Zealand. According to Bruce Smith, sales manager at First Mortgage Trust, the event provided advisers with a great opportunity to connect and learn more about the growing market.

“Working closely with the adviser market is an integral part of the First Mortgage Trust business model,” said Smith. “Advisers are wanting product and finance solutions for their clients, and I believe they found the sessions most informative; the feedback has been extremely positive.”

“We wanted to create an event that made it easy to find out about the many options available from not just one, but five non-bank lenders; to ask questions about client scenarios; and to be better able to open doors for Kiwis who might otherwise put home ownership or other property goals in the too-hard basket,” said RESIMAC general manager Adrienne Church.

Bluestone senior business development manager Sue Griffiths says there is a disconnect happening between borrowers and banks, and that non-banks and mortgage advisers will play an increasingly bigger role in the home-buying process in the coming years. As investor confidence dips and the market encounters more headwinds, adviser input and alternative lending options will become more valuable.

“It was great to see 5 non-bank lenders come together and share knowledge with advisers on how they can provide more positive outcomes for their borrowers,” said Griffiths.

Did you attend the Non-Bank Speed Date? Let us know what you thought in the comments.


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