Selecting a Lender
With over 30 lenders to choose from we have one of Australia's biggest selection of home loan lenders.
Why consider choosing one of the Big Four banks?
The biggest benefit from choosing a well-known big bank is that you know the brand and their track record of security. Home loans from the Big4 banks commonly offer more integrated banking facilities and packages. The Big4 all have highly sophisticated online banking experiences that can complement managing your expenses and home loan.
The Big4 banks include: CommBank (Commonwealth Bank of Australia), Westpac (Westpac Banking Corporation), ANZ (Australia and New Zealand Banking Group) and NAB (National Australia Bank).
Commonwealth Bank of Australia
CBA and CommBank are also familiar names for the Commonwealth Bank of Australia. Part of the Big4, CBA is considered to be Australia’s leading provider of integrated financial services, including retail, premium, business and institutional banking, funds management, superannuation, insurance, investment and share-broking products and services.
The Commonwealth Bank brand is considered to be one of the most recognised brand in the Australian financial services industry. The Commonwealth Bank Group provides a full range of retail banking services including home loans, credit cards, personal loans, transaction accounts, and demand including term deposits through its Commonwealth Bank and Bankwest brands.
The Australia and New Zealand Banking Group Limited, more commonly known as ANZ, is the third largest bank by market capitalisation in Australia, after the CBA and Westpac. Australian operations make up the largest part of ANZ's business, with commercial and retail banking dominating.
ANZ dates back over 175 years whose commitment to building lasting partnerships with their customers, shareholders and communities in 33 countries in Australia, New Zealand, Asia, the Pacific, the Middle East, Europe and America is evident. ANZ continue to provide an excellent range of banking, financial products and services to over 9 million customers and employ over 50,000 people worldwide.
Westpac Banking Corporation was founded in 1817 and was the first bank established in Australia. Now one of the Big4, Westpac has a long and proud history as Australia's first and oldest bank. It was established in 1817 as the Bank of New South Wales under a charter of incorporation provided by Governor Lachlan Macquarie. In October 1982 it changed its name to Westpac Banking Corporation following the acquisition of the Commercial Bank of Australia.
Westpac’s vision is ‘To be one of the world’s great companies, helping our customers, communities and people to prosper and grow’. Their customer-specific focus on deposits, wealth and insurance have been key elements to their success story and has enabled them to appeal to a broader range of customers. Westpac continues to provide a strategic flexibility to financial solutions to better meet individual customer needs.
National Bank Australia
National Australia Bank Group is a financial services organisation with over 12,700,000 customers and 42,000 people, operating more than 1,700 stores and business banking centres globally.
NAB’s major financial services franchises in Australia are complemented by businesses in New Zealand, Asia, the United Kingdom and the United States. Each brand is uniquely positioned yet built on a common commitment to provide customers with quality products and services, fair fees and charges, and relationships built on the principles of help, guidance and advice.
Why consider choosing a smaller retail bank?
Often, smaller banks can have the most competitive products for borrowers who have unique situations such as being self-employed or working on a contract basis. Even if you haven’t heard of many of these banks, you can trust they’re safe as they’re held to the exact same National Consumer Credit Protection (NCCP) standards as all other lenders in the country.
Bank of Melbourne
The Bank of Melbourne is a financial institution based in Melbourne, Australia, established in 1989 and taken over by the Westpac Banking Corporation (Westpac) in 1997. A bank who believes in delivering the right finance solutions, rather than a generic package.
Their motto is to make their customer’s life easier by adding genuine value to the way they deal with money in their day to day business. From buying a first home, restructuring a loan, to renovating at home, Bank of Melbourne will customise solutions to better suit their client’s needs.
Bank of Queensland
Established since 1874, BOQ is one of Australia’s leading regional banks, who’s among the few not owned by the Big4. This means they’re completely independent, while offering a genuine alternative for customers looking for a full range of personal banking services.
With more than 250 branches Australia-wide, BOQ have created simple, easy-to-understand banking products to help support their customer’s financial needs. Bank of Queensland pride themselves on building long-term customer relationships based on respect and compassion to both individuals and businesses.
Bank of South Australia
The Bank of South Australia, also known as Bank SA is the largest financial institution in South Australia and the state's largest home lender. The forerunners of Bank SA and the State Bank of South Australia merged under the same name State Bank of South Australia in 1984.
Bank SA is now a division of Westpac, having been a division of St. George Bank before Westpac and St. George merged in 2008. Bank SA have over 100 branches in South Australia and the Northern Territory and pride themselves on their home loan packages with specialist features and low doc options loan options.
Established in 1895 the Agricultural Bank of Western Australia by the WA Government, this financial institution was set to service the needs of the state’s farmers only. Now called BankWest, they have expanded to service customers nationwide, determined to get to know their clients, not just their banking, no matter where they’re located in Australia.
BankWest have both business and home loan banking specialists who are dedicated to tailor make banking solutions and packages for each individual scenario. BankWest’s motto is to make banking easier and are driven by this value.
St.George Bank is one of Australia's leading retail and business banking brands, serving over 2.6 million consumer, business and corporate customers in Australia. In 2008, St.George and its South Australian brand, BankSA, became part of the Westpac Group. With more than 5700 staff and 396 St.George and BankSA retail branches, St.George is known for exceptional service, innovative, award-winning products, and specialist financial advice for retail and business customers.
St.George has built its reputation on strong connections with local communities. A deepening understanding of sustainability suggests that they’re extending their commitment to a broader range of stakeholders and interests.
Why consider choosing a regional lender?
Many regional banks operate nationally by using mortgage brokers to educate the public about their competitive products. Regional retail banks can provide a more local and personalised customer service. These lenders offer fixed and variable rate home loans that keep the competitive pressure on the Big4.
Adelaide Bank focus on strong customer relationships, user-friendly products and fast service. As unique mortgage brokers, they offer a more personalised approach, reliability and direct access their decision makers.
Their range of home loan products present a streamlined approach to home lending which appeals to a broad range of customers, boasting on providing great all-round value to their current and new customers.
Suncorp Group includes leading general insurance, banking, life insurance and superannuation brands in Australia and New Zealand. The Group has 15,000 employees and relationships with nine million customers. We are a Top 20 ASX-listed company with $96 billion in assets.
Suncorp has five core businesses include personal insurance, commercial insurance, Vero New Zealand, Suncorp Bank and Suncorp Life. These are supported by corporate and shared services divisions.
Why consider choosing a mutual banks or co-operatives?
Mutual banks and co-operatives are great alternative lenders that pride themselves on being member focussed. These lenders focus on people and customer service rather than shareholder profits - both mutual banks and co-operatives are collectively owned by their members, not by shareholders.
Mutual banks and co-operatives are sometimes considered as ethical banks, a socio-economic difference that gives more and takes less.
Established in 1875, Heritage is Australia's largest customer-owned bank, enriching thousands of Australia's financial dreams. Heritage Bank is an independent bank, strictly owned by their customers and not shareholders.
True to their motto, ‘People first’, profits are shared equally amongst their customers. Their mission continues as they help their customers save money by offering better rates and lower fees than their competitors where they can.
Circle Credit Co-operative
Circle’s history can be traced back to the 18th September 1963 when the ICI Employees (Vic) Credit Co-op Limited was incorporated. For nearly 50 years Circle has steadily grown and now assists 5,000 members from across Australia. Whilst predominantly sourcing members from within the chemical industry, Circle welcomes enquiries from any Australian resident. Circle’s Mission is – “Building better banking around YOU”
A co-operative is an organisation set up by, owned and operated for the benefit of its members. In Circle’s case, all members have one share and an equal voice. Our profits are returned to members by way of low fees and attractive interest rates.
Co-operatives offer a real alternative to traditional corporate structures and focus on the needs of its members (its customers) and not external shareholders.
Why consider choosing a foreign owned lender?
Foreign owned banks like Citibank and ING Direct bring international competition into the Australian banking system. Combining local expertise, with the strength of a world wide banking network foreign owned banks offer a competitive alternative to the local Big4 banks.
Citibank in Australia is part of Citigroup, one of the world's largest financial services organisations. Citibank commenced consumer operations in Australia in 1985 when it was the first foreign bank to be granted a banking licence.
By combining local expertise with the strength of Citibank's worldwide consumer banking network, they’re able to offer not only a sophisticated range of products by Australian standards, but some of the world's leading range of financial services including deposit accounts, foreign currency deposits and investments, credit cards, mortgages and insurance.
ING, also known as ING Direct, believe that they reinvented the way Australians bank by delivering simple, straightforward banking and good value products. ING DIRECT (the trading name of ING Bank (Australia) Limited) is the world's leading direct savings bank and is wholly owned by ING Group.
Their motto is: simplicity is best, which also translates to the ING success story. Offering loan packages that are simple and easy to understand is just the start. Keeping general overheads low has made it easy to pass on the savings to their customers.
Why consider choosing a low cost non-bank specialist lender, or a larger wealth management institution?
From specialist lower cost lenders like MeBank, Mortgage Ezy, FirstMac, Economy Home Loans, Better Mortgage Management, Liberty Financial, Future Financial, Paramount Mortgage Services, Pepper Homeloans and Australian First Mortgage, to larger wealth management institutions like the Macquarie Group and AMP, LoanMarket has a range of specialist non-bank lenders that can cater to special needs and circumstances.
AMP is a leading independent wealth management company in Australia and New Zealand, who’ve helped individuals and organisations build financial security and since 1849. AMP boasts the largest financial advice network in Australia and New Zealand with 4,259 aligned and employed financial advisers and planners.
AMP’s motto is believing that financial security can help people turn their possibilities into reality, offering everything from superannuation services for businesses, income protection to low interest rate loans.
AFM - Australian First Mortgage
Established in 2003, AFM is an award winning non-bank mortgage manager. An Australian owned business who offer competitive residential, commercial and leasing finance. AFM is funded by a select group of Australian banks and wholesale lending institutions including Bendigo and Adelaide Bank, NAB’s Advantedge Financial Services, Resimac, ING Bank and Pepper Home Loans. The company manage funds in excess of $2 billion. AFM employs and runs a dedicated team of Business Development and State Sales Managers to support, facilitate and train its accredited mortgage brokers. It also employs a national team of Credit Managers, with, in some instances, combined delegated lending authorities of up to $2 million.
Established in early 2000, Bluestone Group has expanded from a mortgage origination and securitisation platform in Australia to become a multinational Capital Management and Asset Management business, with offices in Australasia and Europe. Since 2000 Bluestone has originated over $5bn worth of loans for more than 22,000 customers and completed a total of 20 securitisations in both Australia and New Zealand.
Bluestone’s loans are designed to be more flexible than those of a traditional lender. Their customers come from all walks of life as they continuously serve a broader and more represented cross-section of the community. This diversity applies to personal situation, employment type, length of time in the country, age and business type.
BMM - Better Mortgage Management
Better Mortgage Management was voted No.1 non bank lender for two years in a row by Mortgage Brokers, for 2013 and 2014. They pride themselves for thinking outside the box having over 40 different loan products and can assist where other lenders can't or won't assist including our unsurpassed range of loans for self-employed borrowers.
BMM is one of Australia's fastest growing mortgage managers committed to providing the best possible home loan options suited to the individual. They base their operation on efficiency, technology and commitment to service with an extensive range of flexible and competitive financial products.
Economy Home Loans
Economy Home Loans are a low-cost lender, providing some of the best value home loans in Australia. Economy Home Loans offer great alternatives for first home buyers and investors alike.
Economy Home Loans is a brand operated by Loan Market Group, one of Australasia’s largest family owned mortgage brokers. Economy sources wholesale funds from RESIMAC Limited (RESIMAC) a respected wholesale funder, originator, servicer, and securitiser of loans which has been successfully operating in the Australian finance industry since 1985.
Firstmac Limited is an Australian owned alternative bank to the Big4, with 35 years of experience in home and investment loans. Firstmac have secured over 68,000 home loans in the past decade.
Firstmac use intelligent online technology and highly-trained local support staff based in an award-winning Australian call centre. They’re dedicated to bringing simple, affordable and innovative financial products to market, underpinned by a lengthy track record of success and a pedigree in prime, mortgage-insured, residential home loans.
Future Financial is a leading financial services group specialising in Mortgage Management and offering a range of products including home loans, property investment and life insurance. From finding the right home loan, managing their customer’s mortgage or a refinance, Future Financial with their dedicated, experienced team of experts will ensure all financial needs are explored and met.
Future Financial, committed to helping their clients make and meet sound financial choices are in business to support Australians nationwide. Future Financial constantly strive to remain a leading mortgage manager in Australia by being innovative and flexible.
GE Money is a leading consumer finance company in Australia and New Zealand, offering a range of services including personal loans, car loans, credit cards, personal insurance, and interest-free and promotional retail finance.
As a trusted alternative to the major banks, GE Money offers a full service provider of accessible and easy-to-understand financing solutions that allows them to better serve their client relationships by managing credit and loan applications, credit authorisation, billing, remittance and customer service processing.
Homeloans has provided Australians with an alternative to banks for their home finance since 1985. They specialise in home loans, and have a wide range of products to meet the needs of all customers, from first home buyers to investors.
Homelaons were listed on the Australian Securities Exchange (ASX) in 2001, and today their major shareholders include National Australia Bank and Macquarie Bank. They pride themselves on quality award-winning service.
HomeStart holds a unique position as a financial institution which balances commercial and social objectives. Although HomeStart operate according to the same laws and principles of mainstream lenders, they set their own credit, risk and lending policies.
Passionate about creating opportunity for everyone, HomeStart create loans that get their customers owning homes sooner. Some of HomeStart’s features include options to pay less upfront, lower deposit requirements, and Repayment Safeguard options and help for those on less income.
La Trobe Financial
La Trobe Financial continue to produce solid growth in the current competitive climate which is reflective of their hard work and dedication. Their brokers are committed and enthusiastic who take pride in the service they offer customers. Their ongoing strategic vision is to maximise their customer’s financial opportunity where they can.
As they strive to be the best in the industry, especially when it comes to customer service, La Trobe Financial aim to deliver their best work within an environment driven by values and great products.
In 1997, Liberty pioneered specialty finance in Australia and New Zealand by offering flexible solutions that required personalised attention that was not available from other financial institutions at the time. Liberty made home ownership possible when the banks said it wasn’t possible. Their innovative and flexible approach has allowed over 140,000 customers to secure loans by advancing over $12 billion in funds.
Liberty continue to provide a wide range of home loans, as well as car and business loans. Liberty is an industry award-winning lender that are a strong alternative to regular banks, always offering alternative, innovative solutions at competitive prices to support customers with greater choice and freedom.
Macquarie Group is a leading provider of financial, advisory, investment and funds management services. Their global operations include offices in the world's major financial centres.
Their breadth of expertise covers advisory and capital markets, trading and hedging, funds management, asset finance, financing, research and retail financial services. The diversity of Macquarie Group’s operations, combined with a strong capital position and robust risk management framework, has contributed to our 45-year record of unbroken profitability.
Established by industry super funds, ME Bank is Australian owned and an APRA regulated Bank. ME Bank’s motto is a ‘fairer way to bank’, priding themselves on providing a genuinely alternative way to bank. ME Bank's products are straightforward, easy-to-understand and transparent.
As ME Bank is owned by industry super funds, their profits go back to their customers, giving everyday Australians, who are members of industry super funds, unions and employer associations, real service, genuine respect and competitive products with no hidden costs and no bank jargon.
Mortgage Ezy is an innovative national non-bank Lender with a deep understanding of individuality, preferring to focus on niche market needs. Mortgage Ezy achieves its goals as a company by helping other people achieve theirs.
Mortgage Ezy is an efficient organisation which leverages its position by processing over a billion dollars of loans annually. They distinguish themselves through immediate, thorough and constructive methodologies offering their customers exciting and flexible loan packages.
Paramount Mortgage Services
Paramount Mortgages have dedicated their time to serving the mortgage broking industry and its customers, committed to providing cutting edge, competitive loan solutions, as well as real time turnaround times for more than 10 years.
Having helped thousands of customers with their unique financial needs, Paramount Mortgages’ founding philosophy is based on honesty and nurturing relationships for residential, commercial, rural, industrial, business loans, specialised securities, development and construction, asset finance and leasing solutions.
Pepper Group is a diversified, independent global financial services business with specialist experience in core disciplines of lending, advisory and asset management across the residential and commercial property sectors, consumer, auto and equipment finance.
As a leading non-bank lender, Pepper Group specialise in flexible loan solutions and individual credit assessment. Their lending capabilities include home loans, car loans, personal loans, SME loans, and commercial loans, chattel mortgages, equipment leases, mezzanine debt and fit-out finance.
Pioneer Mortgage Services
Pioneer was established almost 30 years ago, and an Australian owned financial provider, they offer residential and investment mortgage products in the non-bank market. Over this time, Pioneer Mortgage Services have assisted thousands of customers throughout Australia and New Zealand achieve their dreams of owning a home.
As a non-banking financial institution, Pioneer have a wide range of competitively priced products, delivering customers detailed and personal service. They distinguish themselves from banks through a distinct level of attention offered to every customer with a large range of home loan products to suit all types of borrowers.
Things to consider when choosing a lender
The competitiveness of a lender’s products is certainly one of the most important factors in choosing a lender but there are some other factors you should consider too.
Some lenders offer highly sophisticated technology that allows you to track your home loan, while others have limited online experiences. Additionally, the way your everyday banking accounts link to your loan can vary between lenders.
How much will the lender lend you?
Lenders all have differing criteria for assessing your income and liabilities. You could find the difference between your maximum borrowing capacity can significantly vary between lenders.
Property valuations differ between lenders
All lenders have different valuers who use varying criteria to assess how much your property is worth. Your property valuation is a critical number because it is used to determine your Loan-to-Value (LVR) ratio. Depending on your LVR you may need to pay Lenders Mortgage Insurance (LMI) or have less equity to use for other investments.
Responsible lending standards
In Australia all lenders, big and small, are held to the same compliance standards set forth by the National Consumer Credit Protection Act (NCCP). These obligations ensure all lenders responsibly assess a borrower's capacity to repay a loan.
LoanMarket's panel of Commercial Lenders
ANZ Commercial Australia
ANZ’s industry specialists are focused on providing organisations in the financial sector with a solutions driven approach to address their capital, portfolio management, liquidity and transactional banking needs. ANZ values its customers and believe that a more personalised service is key. ANZ dedicates every commercial client with a Relationship Manager who will take the time to listen to each customer, focussed on understanding each business and their goals.
Their global business have strong experience in both local (Australia and New Zealand) as well as overseas markets in Asia, Europe and America. ANZ's key strength lies in their ability to draw on leading experts from a wide range of disciplines including capital markets, structured finance, treasury and investment banking structure and deliver creative and sophisticated funding solutions to meet our client's interests and individual requirements.
BankWest Commercial value the strength of a business on more than just property. With this personalised approach, they often get a good grasp on customer’s objectives and long-term expectations of their loan and financial plan. BankWest Commercial are determined to help grow their customer’s business needs with innovation and action with little obstruction or delays to getting results.
Offering a comprehensive range of products, BankWest Commercial’s cash flow lending policies make it easier for their clients to borrow more. Unlike other lenders, apart from developing a range of dedicated business products and services, BankWest Commercial contribute to the growth and vitality of the agribusiness sector, conscientiously supporting the rural and regional community.
CBA Commercial’s mission is to enhance profitability and efficiency with relationship management tailored to their client’s business. CBA Commercial’s integrated solutions for large corporates and institutions are underpinned by the latest technology, unique insights and market leading capabilities of Australia’s largest bank.
Their comprehensive analysis spans across foreign exchange, commodities, key equity asset classes, structured finance, debt, credit and economics policy development. CBA Commercial’s teams of industry experts apply a client-centred holistic approach, delivering solid economic and market insights to support the ambitions of their client’s business.
Liberty Commercial have a panel of professional and helpful brokers who are not only keen on helping finance established corporations, but also nurture the humble first time investor. As returns on investments generally come through rental yields and capital gains, they endeavour to help research typical rental yields in the locations in which their clients are thinking of buying their commercial property and form a view on likely price appreciation.
They believe that if their client's business has a refined business plan and proposal and great financial backing, both their clients and their own business will propel forward. Liberty Commercial inevitably provide helpful options and advise, an exciting range of products and flexible opportunities.
NAB Commercial are interested in funding business initiatives and growth with their tailor-made business loans. Customers can choose from fixed or variable interest rates and repayment options to suit their cash flow cycle. NAB Commercial also specialise in Self-Managed Superannuation Funds (SMSF) where customers can borrow money to invest in property.
By providing customers with flexible finance solutions, NAB Commercial are determined to help their customer's businesses reach their full potential while managing interest rate risk. Their philosophy is centred around adaptable business loans and finance help that can grow with their clients over time and keeping up-to-date with trending markets.