Only NAB is winning more mortgage market share
NAB's decision not to pass on the full rate cut in November last year has negatively impacted the lender's market share growth, and the bank has lost the title of the nation's fastest growing mortgage provider for the first time in 18 months.
NAB managed to grow its home lending by 0.7 per cent for the month, edged out by ANZ, which grew by 0.8 per cent. NAB, with UBank, was still the only major to enjoy an increase in market share over 2011.
According to RFi's latest Mortgages Market Wrap, the Commonwealth Bank of Australia's market share slipped 1.4 per cent in the 12 months to December, while Westpac and ANZ saw declines of 0.6 per cent and 0.3 per cent respectively.
NAB, on the other hand, managed to increase its market share by 1.4 per cent over the 12 months to December.
Source: The Adviser