What is Non-Bank Lender?
A non-bank lender is a lender that doesn't hold an authorised deposit-taking institution (ADI) licence. They fund loans through wholesale money markets or securitisation rather than customer deposits. Includes specialist lenders, online-only lenders, and mortgage managers.
Why it matters for you
Non-banks are often cheaper than banks on like-for-like loans and often more flexible on policy (acceptance of locum income, self-employed, complex incomes). Regulated under the same consumer protections as banks. Part of Wity's panel of 45+ lenders.
Last updated: April 2026