Competitive pricing pays off for NAB

Australian Prudential Regulation Authority data released yesterday confirmed NAB’s ascendancy, with the lender growing its share of the home lending market 0.2 per cent in the last two months.

But the lender didn’t just manage to grow its market share.

According to the APRA statistics, NAB – the third biggest home lender behind the Commonwealth bank of Australia and Westpac – built its home loan book by 0.85 per cent in July to $170.1 billion.

Meanwhile, Westpac and ANZ managed to expand their mortgage books in line with system growth, with both lenders recording 0.43 per cent growth.

NAB Broker’s general manager distribution John Flavell said the lender’s impressive growth could be largely attributed to NAB’s bullish stance on delivering fair value for their customers.

“We have shown commitment to delivering a compelling Homeside product and pricing offer over the last 18 months and this is starting to pay dividends for us,” Mr Flavell told The Adviser.

“We have also been very active when it comes to investing and improving our Homeside service offer and the feedback from brokers has been very positive".

But despite the lender’s stellar results to date, Mr Flavell said there was still a lot more to be done.

“We will continue our focus on delivering a competitive producta nd service offer for brokers and their clients,” he said.

“There is no reason why one in every four loans should not be written through NAB Broker and I will continue to work at achieving that.”