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By: Staff Reporter
ANZ is challenging Westpac’s and CBA’s stranglehold over the mortgage market, by boosting its lending to homebuyers.
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According to recent data from the Australian Prudential Regulation Authority, ANZ was the fastest growing major in February, expanding its business by $1.54 billion.
While Westpac and CBA still accounted for more than 56 per cent of market growth during the month, their combined dominance slipped from 70 per cent recorded at the same time last year.
NAB also enjoyed a strong growth month, boosting its home lending by $1.31 billion.
NAB currently has the cheapest variable rate of the majors.
