Non-Bank Lending

Q: What are the benefits of choosing non-bank lending?

Benefits of non-bank lending include flexible credit criteria, faster processing times, and customised loan options. Non-bank lenders may also be more willing to work with borrowers who have unique financial situations or less-than-perfect credit histories.

Q: How do I determine if non-bank lending is the right choice for me?

Consider non-bank lending if you need a customised financial solution, faster access to funds, or if you've faced challenges securing a loan from traditional banks. A financial advisor can help you evaluate your options and determine if non-bank lending aligns with your financial goals and needs.

Have you been turned down by the banks? Need an expert opinion on whether you are likely to meet bank lending criteria before wasting hours of your time?

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There is a growing market for Non-Bank lending institutions.

The main banks can take a conservative lending approach to certain risks within lending applications. This does not mean you are necessarily unworthy of borrowing money; it may mean that alternative lending options are required to be sought.

We have access to a variety of non-bank short and longer-term lending solutions and are enthusiastic about finding you the right option for you. It is important that skill and diligence are exercised with this more specialised lending; an inferior solution may end up costing a dramatic additional amount if the wrong non-bank is recommended and an offer is accepted by you.

An ‘Exit strategy’ is also an integral part of this conversation with an adviser that has your best interests at heart or if the solution is a long-term solution, then understanding this upfront. Your finance arrangement may only sit with a non-bank lender for a brief time. We can approach a bank when and if you meet their criteria. We will explain this in our written advice to you to convey clear expectations and to enable a material understanding of this, as part of the professional process we undertake for you.

If upfront fees are applicable, we will discuss with you as part of our Nature & Scope of Advice process, at the initial stages of engagement.

Getting you finance through a main bank is always the priority, if it is viable.

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With over 20 years of industry experience, Rod and his team provide expert guidance and top-notch service to help you achieve your financial goals. Reach out to our team today.

+64 9 950 8800

rod@rsfa.co.nz

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RSFA Financial Advisers leverage Planolitix to provide clients with comprehensive financial planning and advanced data analysis, ensuring tailored solutions for optimal financial outcomes.

By utilising this sophisticated tool, RSFA Financial Advisers enhance decision-making processes and maximise investment strategies for their clients.

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Useful Calculators for Non-Bank Lending

Our website offers a variety of easy-to-use financial calculators designed to help you make informed decisions.

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Frequently Asked Questions

What is non-bank lending, and how does it differ from traditional bank loans?

Non-bank lending involves borrowing from financial institutions that are not banks, such as credit unions, building societies, or private lenders. These lenders often offer more flexible terms, quicker approvals, and tailored solutions compared to traditional bank loans.

What are some non-bank lending examples?

Here are some examples of non-bank lending applications, where main bank options are unlikely to be available:

Bridging finance where there is no guarantee of repayment of lending and thus proving satisfactory servicing becomes a real issue. We call this ‘open-ended bridging’ and although it can be convenient to buy first, and then sell your property, it may come as a surprise that even though your ‘end position’ works well within bank criteria, the fact your existing property is not in fact sold (unconditionally) at the time you purchase or wish to, the bank could make this challenging if not impossible to obtain approval. We take a pragmatic approach by looking at whether we can try the banks and will produce a well-presented file for their consideration. We will also discuss what non-bank options may exist.

If you are newly self-employed (have less than two years’ worth of formal financials), or possibly you have had a blip year (have earned materially less than in previous years) you may struggle to have finance approved by a mainstream bank. We can look at alternatives.

If you are asset rich and cash poor and wish to raise finance, you will probably need a non-bank lender to provide approval. With changes to the CCCFA at the end of 2021, if you are deemed to fit within CCCFA lending criteria, obtaining lending even from non-bank lenders can prove challenging – we will give you a transparent and professional opinion on this as early on in the piece as possible.

You may have a credit rating impairment such as resolved or unresolved credit adversity. You may be discharged from bankruptcy or have undergone a non-asset procedure. This list is not exhaustive. The banks tend to take a hard line on credit impairment issues, even ones that are repaid that could have been a few years ago.

You may not have an indefinite returning resident’s visa for New Zealand and seek a low equity loan.

Tax debt. Many self-employed Kiwis (in particular) may find themselves in situations where they owe the IRD money and therefore will want to borrow money to clear the debt. It can work out less costly to borrow money from a non-bank as opposed to paying IRD penalty interest and fees. People can end up having debt with the IRD for a number of reasons and we recommend consulting with your accountant or other qualified tax professional for guidance in managing tax obligations.

What are the benefits of choosing non-bank lending?

How do I determine if non-bank lending is the right choice for me?

Contact our award-winning team and experience the difference

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   Deane Trethewey 
 
 
 
 Trustindex verifies that the original source of the review is Google. Rod and Jet great to deal with - that’s why we always come back
  
 
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   Liam Watson 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great team, really helpful. I was able to get an insurance policy better suited to my needs and at a much better price than my previous policy. Would highly recommend.
  
 
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   Katrina Knapp 
 
 
 
 Trustindex verifies that the original source of the review is Google. We’ve had a great experience working with Rod. He helped us with a mortgage re-fix as well as two new builds, and each time he secured us strong deals and clearly explained multiple options from different banks. He’s knowledgeable, helpful, and takes the time to make sure you actually understand what you’re signing (which is underrated in this process). We wouldn’t hesitate to recommend him to anyone looking for a reliable mortgage broker.
  
 
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   louise anderson 
 
 
 
 Trustindex verifies that the original source of the review is Google. I recently worked with RSFA to set up my health insurance and move my KiwiSaver under their management, and the whole experience was excellent. Kathleen made the health insurance process incredibly easy, and Jet was great to deal with on the KiwiSaver side. Both were friendly, clear, and genuinely helpful. I’m really happy with the service and would definitely recommend RSFA to anyone looking for solid advice and support.
  
 
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   Tom Mackay 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have worked with Rod and Kathleen at RSFA for a couple of years now. They did a great job of understanding my personal and business insurance requirements, and were able to provide me a solution that was more targeted and comprehensive than my existing policies. Not only that, it cost me less than I was already paying. More recently, Jet at RSFA has become my kiwisaver adviser. She is extremely proficient and a pleasure to work with. I have recommended RSFA to others and will continue to do so!
  
 
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   Molly Stokes 
 
 
 
 Trustindex verifies that the original source of the review is Google. Rod and Jet have been outstanding to work with. It’s clear the RSFA team genuinely prioritise their clients and consistently offer top quality advice. They made the whole process seamless and stress free for my husband and I, with excellent communication throughout. I would absolutely recommend RSFA any day. Thank you Rod and Jet!!
  
 
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   Laura Gladstone 
 
 
 
 Trustindex verifies that the original source of the review is Google. We had such a great experience with both Rod & Jet. We moved banks and our KiwiSaver. Great advice, they were always happy to answer our questions. Fast turn around time from start to finish! Thank you both! Highly recommend.
  
 
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   Lyss Abbott 
 
 
 
 Trustindex verifies that the original source of the review is Google. Rod and Jet went out of their way to get me the best possible terms they could. And they blew my bank out of the water in every way. My bank was asking a million questions about my spending, going as far as wanting me to cancel my gym membership! Real Savvy assured me they weren't interesting in nitpicking my financial choices. They treated me like an adult who has autonomy over her own finances, whereas the bank acted like I was a child who didn't know how to run my own life. Not only did I appreciate being treated with respect and dignity, they also got the loan without heaps of conditions that the bank wanted to impose. And they were so easy to work with and so accommodating of my schedule as a shift worker. They also helped me switch to a more suitable Kiwisaver scheme for my stage of life and really listened to what I care about to ensure my investment was aligned with my values. I couldn't recommend them more! They made everything so effortless on my part, while getting the best possible lending outcome.
  
 
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   Adele Nairn 
 
 
 
 Trustindex verifies that the original source of the review is Google. I cannot rate Rod Schubert and the team at Real Savvy Financial Advice highly enough. If you are looking top notch brokers (financial & insurance services) who are willing to think and work with you on the outcomes you are seeking then look no further! Rod helped us with some complex re-financing recently against some very tight timelines, always remaining cool under pressure and retaining his sense of humour throughout. On the insurance needs front, Jet Douglas, also of RSFA, walked on water to get us the best insurance cover tailored to our specific requirements. Neither of these requests were easy nor straightforward, however, both Rod & Jet never lost sight of our end goals and acted with exceptional professionalism throughout. We could not be happier with the outcomes and strongly recommend to anyone serious about reviewing where you are financially, including reviewing your insurance risk profiles, or simply looking for tailored mortgage advice - go talk to these two first.
  
 
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   Belinda S. 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Rod Schubert and his team at RSFA.  Both Rod and Jet have been phenomenal to work with. Before coming to them, I had no idea how mortgages really worked—despite having one. Rod and Jet made it easy to understand. Their patience and professionalism gave me complete confidence throughout the process. What really stood out was how far they went above and beyond to achieve the best outcome. They took the stress out of what can be an overwhelming process, kept me informed at every step, and genuinely had my best interests at heart. If you’re looking for a mortgage lending advisor who combines deep expertise with clear communication, trustworthiness, and outstanding personal service, Rod, Jet and their team are the ones to go to.

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