Branching Out - Resimac

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feature / SpecialiSt and non-conforming loanS One size n Story / Vivienne Kelly 10,000 tackles, 307 GAMES 20 TESTS, 17 origin matches 5 PROVAN SUMMONS MEDALS 1 TEAM... resimac AUSTRALIA’S LEADING NON BANK LENDER DEDICATED TO SPECIALIST LENDING AND FAIR HOME LOAN OPTIONS FOR ALL. BE ON A WINNING TEAM. 32 / breaking new ground WWW.RESIMAC.COM.AU | 1300 RESIMAC AUSTRALIAN CREDIT LICENCE 247283 NATHAN HINDMARSH RUGBY LEAGUE LEGEND & RESIMAC BRAND AMBASSADOR
ot for all Brokers are in a prime position to help the specialist and non‑conforming borrower access capital Since the introduction of NCCP regulation, some brokers have steered clear of the specialist and non-conforming sector due to the more stringent rules that now apply. But with mainstream lenders often unable to look outside the box, brokers still have a huge opportunity to capitalise on this area of the market. WHO ARE THEY? Specialist and non-conforming borrowers account for approximately five per cent of the lending market, according to RESIMAC’s chief operating officer, Allan Savins. The market was thriving before the global financial crisis (GFC). But with specialist and non-conforming lenders AUSTRALIAN CREDIT LICENCE 247283 subsequently ceding ground to the majors, and increasingly tight credit criteria, many brokers are no longer sure how to target or service this market. The borrowers, however, are still out there. “Essentially, any borrower that doesn’t fit traditional lending guidelines falls into this category,” says Mr Savins. Based on that broad definition, it is clear the market is incredibly diverse – and doesn’t comprise only credit-impaired borrowers. Specialist and non-conforming Start Hitting The Mark. » Clear and credit impaired » 90% LVR loans to self employed » Loans for business purposes » Unlimited cash out Contact a RESIMAC BDM today on 1300 RESIMAC. borrowers include the selfemployed, those who have only been employed short-term, “There’s nothing wrong with borrowers that have adverse credit, provided we understand why” Solutions from the leaders in Specialist Lending. borrowers who have been declined lender’s mortgage insurance, new immigrants with no Australian borrowing record and, finally, the credit-impaired. Mr Savins emphasises, however, there is a clear difference between those with a credit default who have experienced a ‘life event’ – sickness, accident, job loss, small business failure, divorce etc – and those who are habitual, systemic defaulters. Breaking new ground / 33
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Branching Out - Resimac

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