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MFAA asks borrowers not to write off non-banks

Staff Reporter 1 minute read

The MFAA, showing support for the non-bank sector, has encouraged Australian borrowers to consider both banks and non-banks when looking to switch lenders.

“We know some commentators and industry players have been encouraging borrowers to switch from non-bank mortgages to banks,” MFAA CEO Phil Naylor said on Friday.

“Different lenders have different products, and while switching to a bank may be the right move for some borrowers, it may not be the answer for everyone,” he said, emphasising that full consideration needs to be given to all features of a loan.

He also reminded borrowers that non-banks rated higher than banks in terms of customer satisfaction, according to research by the MFAA and BankWest.

Published: 17-03-08

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MFAA asks borrowers not to write off non-banks
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