New Zealand's non-bank sector has grown rapidly in recent years, offering great alternatives to traditional lending options - especially for good borrowers who don't fit bank criteria. Here's what you need to know about the different non-bank loan options out there.
For the first time in a long time, NZ's main banks have opened their books to like-for-like refinances - a.k.a. refinances from non-bank lenders. If you're with a non-bank, and heading for a refix sometime soon, it could be an opportunity to save big on interest rates.
Bank servicing requirements have become increasingly difficult to pass in recent months, causing all sorts of chaos for property investors caught short when it comes time to buy or sell. So, where do you turn when traditional lenders say no?
For those who have strayed down the treacherous path of having all your loans with one bank, the consequences have started to bite.