Liberty Financial looks to expand lending with KiwiSaver money

  • Non-bank mortgage lender Liberty Financial is seeking deals with KiwiSaver providers to fund more lending.

Liberty specialises in making “near-prime” home loans, which are loans that do not meet the big banks’ lending criteria.

Customers could include people who may have black marks on their credit records, who were gifted their deposits, or who are newly self-employed.

Liberty’s chief executive Mark Collins, who is also heads  Mike Pero Mortgages, said the big banks had been tightening their lending criteria in recent months resulting in more business going to non-bank lenders.

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When banks tighten their lending criteria, non-bank lenders like Liberty Financial get new business.

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