Tuesday, January 29, 2013

who controls your loan?


Major banks control 77.5% of all loans
Commonwealth Bank (CBA) and its subsidiary Bankwest accounted for nearly 40% of all first-home loans processed in December 2012. Mortgage broker AFG's quarterly Competition Index shows that CBA accounted for 29.6% and Bankwest 9.3% of first-home loans. During 2012, Bankwest's market share declined from 12.6%, while CBA rose from 19.9%. CBA's strong performance lifted the major lenders' share of the first home buyer market to 77.5%. Suncorp remains the largest non-major lender with 5.5%, followed by Macquarie (3.6%) and ING (3.5%).

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