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Non-bank sees 48% surge in new lending

Non-bank sees 48% surge in new lending

One of Australia’s largest non-bank lenders has seen a significant increase in mortgage lending, which has driven total assets by 40 per cent in 12 months to $7.5 billion.

Liberty announced this week a pre-tax profit of $76.3 million for the 2017 financial year, highlighting a 48 per cent spike in new loan originations over the 12-month period.

John Mohnacheff, Liberty’s group sales manager, said that the results confirmed the non-bank as a lender of choice.

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“We are focused on giving more choice to brokers and customers and, at the same time, ensuring the experience of dealing with Liberty is personalised, fast and professional,” Mr Mohnacheff said.

“Choice is about awareness of and access to Liberty’s market-leading products. Our broking partners are instrumental to our success and responsible for delivering $3.7 billion of new loans.”

Also of note was the group’s 64 per cent increase in new commercial loans and a 39 per cent increase in new motor vehicle loans.

Mr Mohnacheff said that the lender has invested in marketing and advertising to reach its customers and make the job easier for brokers.

“We’re getting cut through and it’s making a real difference for our broking partners,” the sales manager said.

In August, Liberty acquired National Mortgage Brokers (nMB) from Aussie Home Loans. The aggregator has a network of nearly 400 brokers. The nMB business will complement the group’s existing third-party business, Liberty Network Services, a platform of 120 advisers.

[Related: Pepper directors unanimously recommend shareholders to approve takeover]

Non-bank sees 48% surge in new lending
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