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Big banks still dominating market

11/03/2010

Despite all the talk about renewed competition in the mortgage market, yesterday’s ABS figures show that banks have 94 per cent of all outstanding mortgages provided by approved deposit taking institutions. That share is unchanged from December and slightly higher than September.

The bank's share of lending in January, $13.3 billion, was 90.3 per cent. Brokers tell a different story. AFG says banks had 83 per cent of its lending in February and Mortgage Choice said the big banks (plus their subsidiaries) had 80 per cent of its lending in the December half.

Source: Banking Day



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