• Contact
  • Feedback
Banking Day
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Smaller mortgage lenders giving majors a run for their money

25 October 2013 5:12PM
Banking competition is alive and well, according to mortgage aggregator AFG.Yesterday, AFG reported that 26.3 per cent of the loans written by its brokers in September were funded by "non-majors" - regional banks, mutuals, mortgage specialists and foreign-owned banks. Non-major share has increased from 20.6 per cent in March.Smaller lenders have been particularly strong in the fixed rate segment, where their share has increased from 15.5 per cent in March to 29.2 per cent in September.AFG's general manager of sales and operations, Mark Hewitt, said the non-majors were applying plenty of competitive pressure to the majors, with a high level of loan discounting being the result.Smaller lenders that have picked up share in recent months include Macquarie Bank, ING Direct, Suncorp and AMP.Commonwealth Bank and ANZ have lost ground with AFG's brokers.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use