Buying guide
5 Non bank lenders who may say yes if the bank says no
(Some even offer 10% deposit home loans)
AI summary
If the bank declines your loan, non-bank lenders offer an alternative with more flexible criteria. They are ideal for borrowers with bad credit, irregular income, or small deposits, assessing applications on a case-by-case basis.
The main trade-off is typically higher interest rates and fees. Key lenders include:
- Residential: Avanti Finance, Squirrel Money, Pepper Money
- Developers: First Mortgage Trust, ASAP Finance
These lenders provide another path to securing finance when traditional bank lending isn't an option.
Who are non bank lenders ideal for?
What’s the difference between banks and non bank lenders?
Non banks
Can’t take deposits
Non bank lenders work very similiarly to banks.
Are more flexible
Are less regulated
Are funded differently from banks
Have a risk-based approach to lending
Generally charge higher fees and interest rates
-fotor-2024090211284.jpg)
If the banks say no these guys may say yes.
The top 5 non bank lenders in New Zealand
1. Avanti Finance - For residential borrowers
2.Squirrel Money - For residential borrowers
3. First Mortgage Trust - For developers
4. ASAP Finance - For developers
Pepper Money - For residential borrowers
Author
Discover More
A bespoke Mid-century masterpiece in the heart of Titirangi
Bespoke 4-bed mid-century architectural masterpiece in Titirangi bush, complete with a sauna, plunge pool, and privacy.
From bus commute to $10,000 an hour: How last year’s Hunt for the Hundy winner scored $100k
George spent 20 mins a day playing Hunt for the Hundy on Trade Me Property and won $100k. Here is how he spent it.
Search
Other articles you might like
