Alternative lender reports strong year of growth

by Miklos Bolza24 Oct 2016
Non-bank lender Liberty has reported a strong year of growth in which the company achieved record profits. Over the past 12 months, loan originations have doubled, total assets have grown by 46% and before-tax profits have risen by 11%.
 
These results showed that Liberty had solidified itself as a first choice for brokers, said national sales manager John Mohnacheff.
 
“We’ve seen our loan portfolios grow across all asset classes including residential, commercial and motor. Additionally, deal-flow figures from our aggregator business partners show we are now consistently in the top 10 lending groups in the country, further evidencing Liberty’s strong market position,” he said.
 
He continued, saying that the firm remained relevant to brokers through its unique products and services.
 
“Not only can Liberty help brokers service a more diverse range of home loan borrowers with our specialty lending products, we can also help them diversify their revenue with motor, commercial and SMSF lending as well as insurance including mortgage protection insurance,” he told Australian Broker.
 
“We’re the only non-bank lender to provide the full spectrum of lending and insurance services so there are many different ways we can empower brokers to assist their customers and grow their businesses.”
 
Due to its success, Liberty has ended the financial year as the only investment grade rated non-bank in Australia.
 
In the coming financial year, Mohnacheff said Liberty was committed to helping its broker network learn more about the available products and grow their business.
 
“We’ve put over 30 BDMs on the road to help us achieve this – more than any other lender. We recognise that a one size fits all approach doesn’t work because every broker is different – with different customers and unique needs. Brokers need face-time to ask the tough questions, so we’ve provided the platform for them to do this.”

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