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Non-bank private home loans

A sterling alternative for those in search of a better home loan deal.

Today, private lenders are able to offer a legitimate alternative to traditional bank loans, creating a competitive environment among lenders that can greatly benefit those who realise this and are looking to take a loan. Often, private lenders will specialise in one form of lending or other. At Gryphon Direct, we’re here to help if you’re having trouble scoring a traditional bank loan. That aside, what is it that makes non-bank lenders different?


How non-bank private home loans differ from traditional loans

The largest perceived benefit of borrowing traditionally from a bank is the air of security that surrounds it. Australia’s Big Four banks are established institutions that have been around for extended periods of time, and many feel a sense of safety in keeping with what they know and trust. A side benefit is the convenience – as borrowers often do their usual banking with the same banks.

And indeed, during financial crises – the GFC, for instance – it was the banks that were supported by the Australian government, while non-bank and other private lenders were pushed from the market. These days, however, non-bank private lenders are regulated by the courts, and are subject to essentially the same level of scrutiny as the banks themselves. This renders security a dying issue, and borrowers can feel safe looking to non-bank lenders for more flexible loan terms.

With non-bank lenders, a significant advantage would be their smaller size. Being smaller organisations or individuals, private lenders have the freedom to more easily negotiate flexible deals. They are in a better position to be able to tailor their loan products to match the individual circumstances of clients, and all this with more involved, dedicated customer service.

Non-bank home loans

Considering a non-bank home loan? Choose Gryphon Direct.

If you’re considering taking a non-bank private home loan, and cannot, or would rather not borrow traditionally, Gryphon Direct can offer high turnaround speed and greatly personalised lending service. With our network of over 200 private lenders who are accommodating of fluctuating credit history, we can even help higher risk borrowers or people with bad credit. 

As with any large institution, a bank’s size and stability is a double-edged sword. Larger organisations operate under a larger hierarchy, which means more complex processes and overheads. This can result in slower service and response times. If you need funds urgently, non-bank home loans are the way to go. There will be slightly higher interest rates, though this is to account for the higher risk tolerance of our private lenders. 

We specialise in helping clients with minimal documentation or past arrears – whether due to being self-employed or any other reason. The application process is easy and fast; just send in the short application and one of our experienced lending managers will get back to you within a single working day. 

No hidden fees or charges are included, and you’ll have a clear view of the status of your loan. In Gryphon Direct, we will compare from a great variety of our lenders to secure a competitive deal for you, so you don’t have to worry about doing everything by yourself. 

As a final bit of advice – if you’re having troubles with bad credit, be sure to contact us about our bad credit loans. As always, we’re happy to help. This could also be a great way to begin repairing your credit score.

Complete the quick form today to tell us exactly what you need.