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Andrew Boyd

Andrew Boyd

Managing Director at Finty, NSW

Research shows markedly divergent approaches to how The Big Four banks lend

8Mo ago 0 Replies 150 Views
Research published by Finty has revealed "markedly divergent approaches" to how banks lend to consumers. Key findings from their research:

  1. The Big Four concentrate their home loan lending among the Gen X and Gen Y.1 age groups. Westpac provides far fewer home loans to the Baby Boomer generation than the other banks, representing less than 7% of their total loans, which is half of the percentage share provided by other banks.
  2. Westpac seems to be directing that lending business to Gen Y.2 instead. It is the only bank to provide that age group with the largest total percentage of its total home loan book (46.4%).
  3. ANZ is directing its home loan lending to Gen X, providing them with 48.1% of their home loans.
  4. CBA is the only one of the Big Four that provides a double-digit percentage of their home loans to Gen Y.1.

If you are going to apply for a home loan, this research could help identify where your chances of approval are higher.


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