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Greater, NAB & online lenders make splash in 2011

12/12/2011

In the mortgage market, Greater Building Society, spruiked by Jerry Seinfeld, has been making waves with big rate cuts. Internet sites loans.com.au, www.LowerYourRates.com.au and www.betteroption.com.au also feature among the lowest-rate lenders, according to Infochoice.

NAB has picked up mortgage market share from the other big banks.

Most popular financial institution with customers is the super fund-owned ME Bank, according to Roy Morgan Research. More than 92.4 per cent of ME Bank customers reported they were satisfied. It was followed by Greater Building Society (91.2 per cent), Bendigo and Adelaide banks (both 87.8 per cent) and ING Direct (87.6 per cent).

NAB, with 77.5 per cent of customers satisfied, took over from ANZ (77 per cent) as favourite big bank. Commonwealth Bank recorded 76.3 per cent and Westpac 76.1 per cent.

Source: Sunday Mail



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