Eighty-two per cent of mortgage brokers think non-banks present a competitive alternative to the banking majors.
A survey of over 500 mortgage brokers conducted by non-bank lender Homeloans shows that confidence in Australia's non-bank sector is continuing to grow, in a market where the major banks continue to dominate.
The survey also found 80% of mortgage brokers believe a recognised and reputable brand is important in a provider, with 33% saying they would find it difficult to recommend a credit provider that a client was not familiar with.
The findings reflect that the "flight to brand" and stability that took place during the financial crisis may start to help non-bank lenders with a strong brand presence among Australian consumers.
