Platinum Mortgages helps New Zealand borrowers work through their mainstream bank, specialist and non bank mortgage options when the standard bank pathway is unclear or simply doesn't fit. Before any application is submitted to a lender, we look closely at the reason behind the problem, the evidence available, how well it fits lender policy, the timeframes involved and what realistic alternatives actually exist.
The goal is not to send an application everywhere and hope something sticks, or to get a loan at any cost. It's to understand the real problem, weigh up the realistic pathways, and approach a lender whose policy and product genuinely fit your situation.
You'll often hear terms like non bank lender, specialist lender, alternative lender and second-tier lender used almost interchangeably for similar lending pathways. A second-tier lender generally refers to a lender sitting outside the main bank structure. It's a different thing entirely from a second mortgage, which is a separate loan secured behind an existing first mortgage.
If your bank has already said no and you need a clear plan before trying again, our Bank Said No page is the right place to start.
Angela Downie, Financial Adviser, Platinum Mortgages explains:
"One of the biggest misconceptions borrowers have when they first contact us about non-bank lending is that specialist lenders are only for people who have previously been bankrupt or have very poor credit. In reality, specialist lending helps a much wider range of borrowers than most people realise.
I regularly help clients who simply don't meet a bank's lending criteria today. It might be because of a small historic credit issue, servicing, income verification or another situation that falls outside standard bank policy.
One of the reasons I value specialist lenders is that they allow us to look at the bigger picture rather than relying solely on a checklist. They're often able to take a more flexible approach, helping clients who have a strong story but don't quite fit inside a main bank's lending box."
A tailored lender assessment may be useful where the next step depends on the specific lender policy, evidence or structure rather than a simple eligibility answer:
Non bank lending isn't automatically the right response if your existing mortgage repayments are already behind or unaffordable. If that's your situation, start with our Mortgage Arrears in New Zealand guide before considering any new secured borrowing.
Our first assessment looks at your goal, your timing and your complete financial position before we even consider whether a lender should be approached. This is also where we identify any missing evidence and immediate risks before an application is considered.
To build that complete picture, we usually review:
Angela Downie explains:
"One of the most important things I assess before recommending a non bank lender is why a non-bank lender is needed in the first place. I never assume specialist lending is the only option.
One of my first questions is which lenders have already been approached, what feedback was provided and why the application was declined. I also review the client's credit profile and overall financial position so I can identify what's really preventing a main bank approval.
Once I understand the underlying reason, I can build a strategy around it. Sometimes a non-bank lender is absolutely the right solution, while other times there may be another pathway."
To reach a clear and evidence-based recommendation, we:
For a neutral explanation of the different lender and loan categories, read our Non Bank Lending Guide.
If you decide to proceed with the recommended pathway, the next steps include:
Timing depends on the evidence, the lender, valuation, legal work and how complex the application is. We provide a case-specific expectation rather than making a universal approval promise.
Before you decide whether to proceed, Platinum Mortgages explains the total cost of the recommended option. Depending on the lender and loan structure, costs may include lender establishment or administration fees, valuation and legal costs, adviser fees, interest over the expected term, and refinance or discharge costs.
Platinum Mortgages' initial analysis and Loan Profile are provided as a free service. Where an application or pre-approval is arranged through a non bank entity or private lender, a borrower-paid fee applies in the circumstances set out in our current disclosure, and this is explained before you decide whether to proceed. In some cases, the fee may be added to the loan amount.
The exact lender charges, adviser fee and payment terms will be confirmed in the written disclosure provided for your application.
For a fuller look at the benefits, disadvantages and whether the trade-off may be worthwhile, read our Pros and Cons of Non Bank Lenders guide.
Angela adds:
"One reason I sometimes recommend that a client does not proceed with non bank lending is if I don't believe it's the right solution at that point in time.
There are times when waiting, saving a larger deposit or improving a financial position will produce a much better long-term result. In those situations I'll explain both options, the trade-offs involved and my professional recommendation.
My role is to provide honest advice without pressure. If I don't believe specialist lending is the best option, I'll say so."
Where a specialist facility is intended to be temporary, the original recommendation records the expected repayment, refinance, sale or review outcome. After settlement, Platinum Mortgages keeps the agreed review point and evidence requirements visible so the position can be reassessed when the relevant milestones are reached.
We can:
A future move to a main bank cannot be guaranteed. If the expected pathway is delayed or no longer available, we reassess the position rather than assuming the original exit will still work.
Nobody can guarantee approval. A lender’s decision depends on its criteria, the completeness of the evidence provided, affordability and whether the loan is suitable for the borrower’s circumstances. We assess the application carefully and target a realistic lending pathway. We will generally only submit an application when we believe it has a strong prospect of approval, but the final decision always rests with the lender.
No. The recommendation may be another bank, a restructured application, waiting, or a specialist lender, depending on what's actually causing the problem.
Our current disclosure states that a borrower fee applies for applications or pre-approvals arranged through non bank entities or private lenders. The exact fee and terms are disclosed before you proceed.
A formal application or credit check can create an enquiry. We assess the likely pathway first and explain any proposed credit checks before submission.
We include review and refinance milestones in the plan, but future bank approval isn't guaranteed.
Platinum Mortgages New Zealand Limited (FSP752271) is a licensed Financial Advice Provider. Angela Downie (FSP742251) is a registered Financial Adviser with experience in the mortgage industry since 2006.
Angela was a 2026 Excellence Awardee for Adviser of the Year – Specialist Lending and has also been recognised among NZ Adviser's Elite Women.
NZ Adviser has featured Angela's specialist non bank lending approach, including how carefully structured lending and a clear exit strategy can help borrowers after a bank decline.
Read NZ Adviser's article on Angela's specialist non bank lending approach.
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