Liberty launches into FY25 with updated residential offering

Non-bank lender Liberty has kicked off the new financial year by announcing a series of residential lending policy changes to help brokers support more borrowers.

The changes include timely tax debt consolidation options for low doc borrowers, updated serviceability considerations for custom applicants with alternative income sources, and more flexible security requirements for custom deals.

Chief Distribution Officer David Smith said the aim was always to find new ways to help more people get financial with alternative solutions.

“Liberty has always done things differently and we constantly challenge ourselves to find more ways to get to ‘yes’,” Mr Smith said.

“We have listened to our broker business partners and are pleased to offer these enhancements to reflect the changing needs of customers.”

Liberty has extended its debt consolidation options for ATO and state department tax debts to include custom AA low doc borrowers where the LVR is < 70%.

Serviceability enhancements have also been applied for custom applicants with child support, family tax benefit and single parenting payments as an income source.

In addition, vacant land in eligible postcodes is now acceptable as sole security for custom deals where the LVR is <70%.

“We pride ourselves on working closely with brokers as a true partner, and considering all the circumstances in each application,” Mr Smith said.

Because non-banks like Liberty have the flexibility to look more closely at the unique circumstances of each borrower, they have a greater ability to find solutions where other lenders cannot.

“We encourage brokers with scenarios they’re not sure how to tackle to get in touch with their Liberty BDM. If there’s a way, we’ll find it together.”

Approved applicants only. Lending criteria apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial.