Home loan from aussie home loans as lender?

Discussion in 'Loans & Mortgage Brokers' started by Sigemup, 4th Oct, 2019.

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  1. Sigemup

    Sigemup Well-Known Member

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    31st Mar, 2019
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    Hi guys

    I visited aussie home loans adviser and looking for options on home loans. A few of the options included aussie home loans themselves as lender. Some had the pepper Money as lender.

    I did not know that entities which are not the bank can also lend.

    Just want to check how does this go and if it is ok to go with these lenders

    Thank you
     
    Sigemup, 4th Oct, 2019
    #1
  2. iloveqld

    iloveqld Well-Known Member

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    Brisbane
    They are non-bank lenders, and I used them a few times for a long time, no issues with me at all.
    Years ago, I also did some software development for a few of them to understand their background works. So all good for me.

    Not sure if you guys have any bad experiences as I personally think our AU lending system is much better than ones in the US.

    On the other hand, one of my most trusted brokers is from Aussie, he helped me with many stupid questions too.
     
    iloveqld, 4th Oct, 2019
    #2
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    They are unlikely to be the lender, but will be the mortgage manager, rebadging loans by another entity such as Macquarie, ING, Bendigo Bank etc.
     
    Terry_w, 4th Oct, 2019
    #3
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Simple q pls ?


    why those lenders ?

    why not bank XYZ ?

    What are your needs, and more importantly, your goals ?

    ta
    rof
     
    Rolf Latham, 10th Oct, 2019
    #4
  5. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Pepper seems a bit of an unusual lender to throw into the mix - although I don’t know your situation or why the broker made the recommendation.

    Aussie is a franchise - the advice/service you receive will depend largely on the individual you’re dealing with. As mentioned above - the Aussie product is likely a white label product with funds sourced from other lenders and branded as their own.

    Non bank lenders are fine - but question why those two lenders were recommended to you. The broker should be able to provide a solid reason.

    Cheers

    Jamie
     
    Jamie Moore, 10th Oct, 2019
    #5