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Turnaround time channel conflict
The major banks have been experiencing some delays in loan approvals - but broker-lodged loans seem to be more badly impacted than the proprietary channel. The Adviser explores more
Over 15-16 April 2021, the CEOs of the four major banks (ANZ, CBA, NAB and Westpac) were called to appear at a hearing of the standing committee on economics for its ongoing Review of the Four Major Banks and other Financial Institutions on Thursday.
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During the hearing, the bank heads were asked by members of the committee how they were working to ensure that Australian borrowers were able to access finance to buy homes, among other topics relating to lending, house prices and the economy.
When questioning, Dr Andrew Leigh MP, Member for Fenner, highlighted recent Broker Pulse research conducted by Momentum Intelligence in partnership with The Adviser which showed that turnaround times had blown out for the channel.
Annie Kane, editor of The Adviser speaks to head of strategy at Momentum Intelligence, Micahel Johnson, and director of Momentum Media, Alex Whitlock, about the research and what the issues facing the channel are.
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