Five reasons to get accredited with a non-bank lender

With borrowers finding it challenging to meet traditional bank loan requirements, more brokers are becoming accredited with specialist lenders – here’s why.

In an uncertain property market, brokers are finding it harder to place deals that would have been relatively straightforward a year or two ago. Banks are tightening their lending criteria and increasing their serviceability buffers, leaving many brokers no choice but to expand their options and diversify into non-bank lending.

Getting accredited with a non-bank lender can help you meet your clients’ changing needs, solve more funding challenges and grow your own business. Whether you get accredited via your aggregator or go direct through a non-bank lender, the benefits are the same.

Here are five benefits of getting accredited with a non-bank lender.

1. Understand different lenders’ value propositions. Every non-bank lender has their own specialisations and niches, and they all offer something different to brokers. By getting accredited, you can learn more about each lender’s value proposition and the types of deals, circumstances and the clients they can help. This information is often invaluable when deciding where to place a deal and can help you find the right lender for the right scenario quickly. While some lenders specialise in certain types of loan, getting accredited with a lender like Assetline Capital that offers a full suite of products can save you even more time, by giving you access to more solutions in one place.   

2. Access a broader range of solutions. More brokers are turning to diverse solutions for their clients to overcome current market challenges. Some borrowers may choose to buy property through their super fund or their business. Others might need more flexibility around income verification or deal structure. Getting accredited with a non-bank lender gives you a more in-depth understanding of the different solutions available – including some that you and your clients may not be aware of.

3. An experienced partner for guidance and support. Many non-bank lenders offer support for their accredited brokers. For example, when you get accredited with Assetline Capital, you’ll get a dedicated BDM to guide you through the application process, step-by-step guidance for less familiar or complex scenarios and direct access to decision makers to help everything go more smoothly. For scenario questions, process and policy queries, you’ll be able to speak directly to a member of the credit and broker support teams over the phone through the dedicated Broker Support Hotline.As well as access to support, getting accredited also gives you the opportunity to learn which types of clients a lender likes to work with, so you can determine quickly if a deal will fit and save yourself – and your clients – time.

4. All your specialist and alternative lending solutions in one place. With the right non-bank lender, you can save time by having all your specialist and alternative lending solutions in one convenient place. By partnering with a lender like Assetline Capital that offers a full suite of products, you can solve a wide range of client challenges without having to look in multiple places.

5. A deeper understanding of pricing, policies and process. With accreditation comes more in-depth education about a lender’s pricing, policies and process, leading to a better understanding of the requirements in terms of documentation, potential issues and how long the process will take. This knowledge can help you give your clients more confidence and certainty – and increase your chances of getting a deal across the line.  

What to look for in a non-bank lender when getting accredited

While there are benefits to being accredited with a variety of lenders, choosing quality lenders means you will get more out of the partnership – and so will your clients.

There are a few things to consider before starting the accreditation process with a non-bank lender.

• Do your due diligence. While non-bank lenders are not subject to the same regulations as banks, they are still regulated. To ensure you’re dealing with a reputable non-bank lender, make sure they have an Australian Credit Licence and AFCA membership.

• Check their commitment to broker education and support. You’ll get more from your partnership with a non-bank lender if you can build a relationship and turn to them for advice and guidance. Find out what they offer in terms of support for you – for example, at Assetline Capital, we offer dedicated BDM support, direct access to decision makers, a dedicated broker hotline for workshopping scenarios and regular training workshops – including a Digital Broker Workshop series.

• Evaluate their track record and experience. Partnering with a well-established non-bank lender means you can benefit from their experience and feel confident that you can trust them. Look at their history and make sure they have a proven track record of delivering on their promises – testimonials from clients and brokers are a positive sign.

• Look at the breadth of their products and solutions. The more products a lender offers, the more likely it is they will have a solution that saves you from speaking to multiple lenders. The more flexible their policies, the wider the range of borrower circumstances and needs they will be able to accommodate.

Getting accredited with a non-bank lender can help you and your clients by providing access to a wider range of products and solutions, support and education.

It can help you grow your broker business and meet your clients’ changing needs so you can get ahead – even in a challenging market.

Visit our accreditation page here to learn more about getting accredited with Assetline Capital.