Home / Home Loans / New lenders undercut the big four

New lenders undercut the big four

18/03/2010

New players are entering the mortgage lending market with promises to shake things up and provide some real competition to the big banks. Leading wholesale mortgage funder Resimac has launched Hemisphere Financial Solutions, which is marketing a standard variable mortgage at a rate that is cheaper than the cheapest of the big banks.

One of the co-founders of Wizard Home Loans, Paul Ryan is the principal of newly launched Opportune Home Loans, which is lending through a growing franchised network. Another start-up is New Loan, a direct lending arm of listed financial services group First Folio. New Loan is said to have ‘unlimited fuding’ for mortgages.

The big banks - NAB, Westpac, ANZ and Commonwealth - accounted for 95 per cent of all new home lending in December.

Source: WA Today



Previous Article  Next Article


Popular Mortgages $250k

 



Popular Searches


Today's Best Rates

Institution Product Title Rate (%) Details
eMoney Pro Pack 75 (loans below 75% LVR. Contact us for loans above this LVR) 6.08  
UHomeLoan - Refinance only (6.14%p.a incl 0.20%p.a lifetime Loyalty Discount) 6.14
State Custodians Standard Variable Offset Loan 6.22
IMB Budget Home Loan (No Application Fee) 6.27
MyRate.com.au - Advantage Rate Loan 6.35  
Institution Product Title Rate (%) Details

Rates for a $250,000 standard loan. The 3 year tabs show loans that are fixed for 3 years.



SPONSORED LINKS