Spike in loans from non-major lenders
Spike in loans from non-major lenders
Posted on Tuesday, July 23 2013 at 4:06 PM
The home loan market has seen an increase in activity from non-major lenders due largely to property investors and refinancing, according to recent figures.
The Australian Finance Group
competition index revealed the overall share of loans processed by non-major
lenders rose to 24.8 per cent in June, up from 20.6 per cent in March.
Meanwhile, the overall loan
share for major lenders fell from 79.4 per cent to 75.2 per cent over the same
period.
The index showed the increase
for non-major lenders was largely due to business from investors and borrowers
refinancing.
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