Image courtesy of @bellebynso

In the past when looking for a home loan we would automatically approach the major banks (Commonwealth Bank, NAB and Westpac, etc.) because they were all we knew. In the last five years, non-major lenders have developed a diverse range of niche offerings in the mortgage lending space that major banks have not yet tapped into, tailored to the lifestyle demands of today. 

For example, some non-major lenders are open to working with clients who have just commenced a new job, or who have been running a business ABN for just six months by taking into consideration their history in the workforce. Non-major lenders are also hungry for business, so their interest rate offerings are more competitive than those of major lenders.

It is important to approach a mortgage broker who knows the market and is able to position your financial needs to the right lender. Competitive interest rates definitely play a part, but the difference in policies that lenders have is also important. 

We at APS Advisory Group have developed a great relationship with a wide range of major and non-major financial players, so you have confidence in our ability to find you the most competitive and suitable home loan package offering.