Growth

'Natural selection' to drive market consolidation

By Staff Reporter• Tuesday, 12 Feb 2008•2 min read

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Consolidation has been tipped once again as the future for mortgage lenders The Advertiser reported today.

Raine and Horne Financial Services general manager Gary Benzan said the flow-on effect of the US sub-prime crisis was changing the lending landscape in Australia and that mortgage providers would be forced to merge.

“What we are seeing is quite likely a process of natural selection,” he said.

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According to Mr Benzan, smaller mortgage managers will be forced to review their business models and improve competitiveness to survive.

Published 12-02-08

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