There are also non bank lenders and mortgage managers as well as banks
In the past, the only mortgage lenders were banks, credit unions or building societies. More recently, another home loan lender has emerged: the mortgage manager or non bank lender.
Mortgage Brokers & mortgage managers – what’s the difference?
A mortgage broker doesn’t actually lend you money. Their role is to facilitate a loan – helping you choose from a range of lenders.
A mortgage manager or non bank lender, on the other hand, does lend money. Non bank lenders go into the financial markets, obtain funds, and then offer those funds to borrowers at particular terms.
To help find the right bank lender or non-bank lender for you, contact your nearest Mortgage Broker.