Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Second tiers rise up: Smartline

Staff Reporter 3 minute read

Jessica Darnbrough

Second tier lenders are starting to make their presence in the mortgage space known, according to Smartline.

The brokerage’s managing director Chris Acret said second tier lenders are starting to offer very attractive deals to quickly build their market share.

But equally Mr Acret also said that the big four are still keen to maintain their customer base and may be prepared to “sharpen their pencil” to retain their share of the market.

Advertisement
Advertisement

“Companies such as Bendigo Adelaide Bank, Macquarie, ING and the credit unions have all started to more aggressively push back into the home lending market in recent months, following their pull back as a result of the GFC,” Mr Acret said.

“As a result, they are offering competitive interest rates, particularly on fixed loans, and are prepared to lend a higher proportion of the property’s value which is attractive to first home buyers struggling to get their deposit together.

“The packaging up of several banking products with the home loan, low introductory offers, and reducing or even waiving fees are all carrots being used to secure your business and the banks are often prepared to match them.”

PROMOTED CONTENT


Second tiers rise up: Smartline
default
TheAdviser logo
default

 

more from the adviser
ASIC TA ASIC to update ACL process following security breach

The financial services regulator is working on “alternative arr...

money au ta Lenders extend cashback offers

Several lenders and their subsidiaries have extended their cashba...

ren wong N1 pivots to become SME lender

Diversified broking and non-bank lending group N1 Holdings has an...

FROM THE WEB