luminate-logo

Why Would Someone Choose Non-Bank Over a Bank?

When life and finances don’t fit the bank’s boxes, non-bank lenders provide faster, more flexible solutions.

Key Takeaways 

  • ✅ Tailored solutions for self-employed and complex incomes
  • ✅ Faster approvals and less rigid paperwork
  • ✅ Short-term and bridging finance options available
  • ✅ Flexible decisions based on the whole picture
rocket

When banks don’t fit every situation

Most people think of banks first for mortgages. And that works—if you’ve got simple income, a spotless credit record, and time to wait. But life isn’t always that neat.

question

Where non-bank lending shines

  • Self-employed with non-traditional income

  • Multiple income streams (rental, contract, overseas)

  • Bridging loans for buying before selling

  • Fast decisions for investors seizing opportunities

lightbulb

Flexibility vs rigidity

Banks often struggle with complex cases due to strict documentation and slow approvals. Non-bank lenders take a pragmatic approach: reviewing alternative docs, focusing on repayment ability, and moving quickly to get the deal done.

bullseye

It’s not always about the lowest rate

Borrowers choose non-bank lenders because they prioritize fit and speed. The right solution, on the right timeline, can matter more than chasing a headline interest rate.
Luminate Financial Group
Important Information
Useful Links

Luminate Financial Group Limited (FSP765531) is a licensed Financial Advice Provider (Class 2 FAP), authorised to provide regulated advice on home loans, commercial and business lending, and specialist finance.

Luminate Finance Limited (FSP449126) is registered under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 to provide consumer credit contracts and non-consumer credit contracts. It is not a licensed Financial Advice Provider and does not offer regulated financial advice. Investment opportunities are available only to investors who meet specific wholesale investor criteria as defined in the Financial Markets Conduct Act 2013. These are not regulated offers and are not open to retail investors.

All lending is subject to credit assessment and responsible lending obligations under the Credit Contracts and Consumer Finance Act 2003. We follow the Responsible Lending Code to ensure loans are suitable and affordable for our clients.

¹Past performance is not a reliable indicator of future results. Fixed rates are subject to change. Terms, conditions, lending criteria, fees, and charges apply. Images may be indicative only.

© 2025 Luminate. All rights reserved.