Simon Paris: Non-truths about non-banks
Mainstream financial institutions serve the needs of the mainstream - makes sense right? What about if you're not quite as straight forward as the majority - how do you gain access to financial markets then?
Non-bank lender, who are subject to less red-tape than the banks, only make up about 1% of the market in NZ.
Trends in NZ banking are forcing mainstream lenders to leave more opportunities on the table. More people with aspirations of building wealth through property or business are being turned down as a result. This isn't ideal
When these facts are against a backdrop of falling interest rates, I can see non-banks becoming a little more mainstream in terms of popularity.
Simon Paris from Merchant Banking Group joins me this week - I hope you enjoy
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