Private,
Or Non-bank Loans
Private Lenders a better option for me?
Private Loan or Non-bank Loan refers to obtaining a loan from non-bank sources, such as private investors, boutique lending firms, and solicitors’ funds. These funds are usually managed by a fund manager, who pools the resources and facilitates the lending process.
Our brokers simplify the process of obtaining a personal loan to help you focus on more important matters.
What is a private loan or non-bank loan?
It is important to note that private loans typically carry higher interest rates and establishment fees than traditional loans, such as home loans or car loans. This is due to the increased risk associated with this type of lending. Private loans are generally short-term, ranging from three to six months and up to 24 months or more in some cases. These loans require a clear exit strategy for repayment, which can include the sale of assets, refinancing, or a predictable cash flow.
Private loans are typically suitable for customers who have a substantial amount of equity in a property or property portfolio and irregular forms of income.
Advantages of Private Loans
In the private lending sector, there are specialised lenders who cater to higher-risk borrowers who have been declined by major banks due to factors such as their credit history or employment status. These lenders operate outside of the regulatory purview of the Australian Prudential Regulation Agency (APRA), allowing them to assess repayments using more flexible methods for both existing and new debt.
As these lenders are able to borrow funds at wholesale prices, they are often able to offer competitive and potentially lower interest rates than traditional banks. In addition, they typically offer lower setup and ongoing fees compared to traditional banks.
One of the advantages of working with these specialised lenders is that they tend to be smaller in size, without the large hierarchical structures of traditional banks. As a result, they are able to provide quicker turnaround times for their services. Moreover, their more personalised approach to lending often leads to a more customised and tailored experience for borrowers compared to the more standardised approach taken by traditional banks.
How we can provide you with a low interest rate for your personal loan
Non-bank lenders are often specialist lenders that cater to higher-risk borrowers. They offer a range of home loan products to their customers, including basic home loans with either a fixed or variable rate and limited features. Some non-banks may also offer split-rate home loans. In addition, non-banks may provide full-featured standard home loans that offer offset accounts, redraw facilities, and the ability to make extra repayments.
Other types of home loans offered by non-banks include low doc loans, which are tailored for borrowers with limited documentation or inconsistent income. Non-banks also provide bad credit home loans to borrowers with a history of credit issues. Furthermore, investment loans and construction loans are available from non-bank lenders to assist borrowers with their investment property purchases or construction projects.
Contact Us
Interested in securing the best rates possible or need some expert advice to help you through the loan process?
Please send us an email or give us a call at any time, our team of experts are happy to help.
Tom and the team at Azura are brilliant – pro-active, responsive, always great to deal with. Wouldn’t contemplate working with anyone else. 5 stars.
Elia has been our broker for more than 5 years. Very easy to work with, no pressure, clear easy to follow instructions and even supported us to when we found a better rate on own too. Many thanks Elia.
Max and his team were fantastic. Explained everything clearly at every step of the way and always had time for my questions. Will absolutely be using Azura again in the future and would happily recommend anyone!
Tom and the team at Azura are brilliant – pro-active, responsive, always great to deal with. Wouldn’t contemplate working with anyone else. 5 stars.
Tom and the team are really amazing! They negotiated a much better rate than the bank was offering and has saved us thousands. They are located in Double Bay and are probably used to dealing with mortgages way bigger than ours but I never once felt like I was a lower priority. It was a really fantastic experience during a pretty stressful time.
I highly recommend Azura Financial. Tom, Felix and Jay made the financial process of buying a property super easy and seamless. They negotiated a competitive rate for me and completed my settlement paperwork really quickly! Will gladly work with them again in the future.
Have been using Azura Financial nearly 3 years, recently they helped us refinanced our property for further investment purpose. I’d recommend it to my friends, not only about the competitive interest rate, but also about their outstanding services. Especially one of their client managers who provided us an excellent finance solution and followed our case end to end.
I am a buyers agent and have referred to Max from Azura Finance many times. It was actually great to be on the other side and have him help me with my mortgages. We had a very complex set up which Max patiently explained in detail. Great communication and responsiveness and I’ve also saved thousands p/a on my 4 loans. Thanks Max I appreciate all your hard work!
Tom and his team have their finger on the pulse when it comes to everything finance. They are always one step ahead and keep on top of my finances so I don’t have to. His team offer a premium service and are very efficient. Couldn’t recommend more highly.