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February 08: Non-bank sector causes discomfort

by Staff Reporter4 minute read

In a finding that is unlikely to bring much New Year joy to the non-bank sector, research commissioned by the Australian Mortgage Council in 2007 has revealed that 31-per cent of consumers would feel ‘uncomfortable’ to ‘very uncomfortable’ obtaining a loan through a non-bank lender.

Alan Shields, research director at Retail Finance Intelligence (RFI) which undertook the research, cited general market unrest and damning media coverage of RAMS Home Loans’ woes as key contributors to consumers’ negative perceptions of the non-bank industry.

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