Lender spotlight: Resimac’s Chris Paterson on growth in non-bank lending

“Increasingly more clients are falling outdoors the standard lending tips, and main banks are extra targeted on vanilla clients, clients who’re steady of their employment and earnings,” Chris Paterson (pictured), common supervisor of distribution at Resimac, informed Australian Dealer. “Additionally, non-banks’ credit score urge for food is broader than these of the foremost [banks]. Non-banks may assist SMSF-based clients, self-employed, clients who’ve totally different earnings streams, clients who’re greater danger by way of credit score exercise on their credit score experiences, or inconsistent repayments on their mortgages.