BUSINESS: Serviceability Changes Unaffected, Non-Banks Provide Greater Liberty

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Daniel Webster, dWeb.News Publisher

MELBOURNE, AUSTRALIA, November 16, 2021 /24-7PressRelease/ — Under the new regulations, banks must increase their minimum interest rate buffer on home loan applications from 2.5 to 3 percentage points. Applicants with sufficient financial strength can borrow at the same rate as others, but they will likely have a lower borrowing power. It could be more difficult for first-time home buyers to get into the property market.

Non-bank lenders such as Liberty, which have their own risk-based credit assessment system, are not affected and can continue to offer competitive home and car, personal, commercial, and business lending options.

Liberty, one of Australia’s most respected non-banks is used to providing flexible solutions to borrowers with different financial situations.

Although the new policy reflects a desire for borrowers to be protected by managing potential interest rate rises, Liberty’s innovative protocols already account for this. With highly tailored home loan assessments, Liberty aims to give borrowers greater mortgage flexibility and provide more ways to get financial.

Liberty recognizes that every borrower is unique and takes time to evaluate each loan application. A more personal assessment by a lender such as Liberty can make a difference in the success of an applicant who does not meet the traditional lending criteria.

Liberty is a champion for financial inclusion and works to find solutions to help borrowers who are unable to get a loan from banks in a safe, fair, and measured manner. Liberty offers online pre-approval for various home loan options. This will allow you to explore all your options and find the best way to reach your financial goals.

Only approved applicants. The following lending criteria apply. There are fees and charges. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial.

Heidi Armstrong
Group Manager – Communications
P: +61 3 8635 8888
E: [email protected]

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