What is a non-bank lending mortgage

A non-bank lending mortgage is where you take a mortgage from a lender other than a main bank.

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So if we have six main banks in New Zealand, we might have 60 non bank lenders and they will lend for purposes other than just buying a home. They might lend for property development or to purchase a business, or even to refinance some debts that clients already have. The rules, if you like for non bank lenders are different to the rules of the main banks, which are typically quite strict in terms of incomes and LDRs (Loan-to-Deposit Ratios), whereas non-bank lenders can often lend to people probably at a slightly higher rate, but much more flexibility applies.