MEDIA RELEASE

COMPETITION INDEX
NON MAJOR LENDERS GAIN GROUND AMONG FIRST HOME BUYERS
AND REFINANCERS
21 May 2012
Non major lenders have significantly increased their share of the first home buyer and refinancing
markets in the past twelve months according to AFG, Australias largest mortgage broker. AFGs
Competition Index, published today, shows that twelve months ago, the total market share of non major
lenders among first home buyers averaged 22% - 23% a month. In recent months that figure has held
consistently at 28% - 29% - an increase of over 25% (See Tables 7 and 8).
Suncorp has emerged with the biggest increase in market share amongst first home buyers, from 10.1%
in May 2011 to 14.8% last month, having peaked at 17.4% in February 2012. This figure is well above the
market share of three of the Big Four banking brands for April 2012 8.9% (ANZ), 8.0% (Westpac) and
1.5% (NAB). This approach is likely to have placed pressure on the risk profile of their book and it has
been noticeable of late that Suncorp have taken steps to address this by focusing heavily on their offer
for sub 80% LVR lending.
CBA, consistently strong in the first home buyers market, had a 22.9% market share last month. ING is
another non major lender strong in the first home buyers market with a market share in April of 4.5%.
CBA, ANZ and Westpac are moving away from large discounts to individual loans and are now focusing
more on maintaining the margin in their overall loan books a shift that should benefit non major
lenders.
Mark Hewitt, General Manager of Sales and Operations says: These dynamics are significant for the
mortgage market of the future. First home buyers are a very important part of the overall market, both
because they create momentum up the property chain and also because their attitudes signal future
trends. Todays generation of first home buyers are very willing to look outside the majors for their
mortgage needs. This is good news for competition going forward.
Borrowers refinancing their properties have also shown a greater willingness to move outside the
majors, with non majors growing to a market share of 24% - 26% over the past three months, compared
to 21.0% for the last six months of 2011. Non major lenders with greatest market share were Suncorp
(3.6%), AMP (3.5%) Macquare (2.5%) and ING (2.1%).
For the first time, AFGs Competition Index also includes individual lender data by state, as well as across
fixed and variable product types.

ENDS
CONTACT DETAILS
Mark Hewitt, AFG General Manager Sales & Operations

Mob 0414 801 251 | Tel (08) 9420 7888

David Michie, Mosaic Reputation Management

Tel

(08) 9381 4494 | Mob 0411 453 404

www.afgonline.com.au

COMPETITION INDEX
TABLE 1
MAJOR LENDER MARKET SHARE ALL MORTGAGES LAST 12 MONTHS

BankWest
CBA
Bank SA
BOM
St George
Westpac
ANZ
Homeside
NAB
All Majors

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

8.2%
19.7%
1.3%
7.0%
15.5%
15.5%
9.1%
4.3%
80.6%

7.6%
18.6%
1.0%
7.7%
15.7%
17.7%
10.4%
3.6%
82.3%

10.8%
17.7%
1.5%
6.3%
15.5%
18.6%
8.3%
2.8%
81.5%

9.7%
18.8%
1.4%
0.6%
5.4%
14.9%
19.9%
8.0%
3.9%
82.6%

8.7%
18.3%
1.1%
1.3%
6.3%
14.4%
20.9%
8.2%
2.1%
81.3%

7.2%
18.7%
1.5%
1.6%
5.3%
13.7%
20.1%
8.7%
3.6%
80.4%

6.5%
18.0%
0.9%
1.3%
5.4%
14.4%
24.8%
7.4%
2.8%
81.5%

7.0%
17.7%
1.3%
1.7%
4.4%
14.2%
20.9%
8.2%
2.1%
77.5%

7.0%
17.4%
1.5%
2.0%
5.1%
12.2%
21.6%
8.5%
3.7%
79.0%

7.0%
14.8%
0.9%
1.8%
4.7%
11.9%
23.6%
9.1%
2.3%
76.1%

6.9%
15.2%
0.8%
3.8%
7.7%
13.3%
17.5%
9.3%
2.5%
77.0%

7.2%
17.7%
1.2%
2.2%
7.3%
14.2%
17.0%
9.9%
1.7%
78.4%

TABLE 2
NON MAJOR LENDER MARKET SHARE ALL MORTGAGES LAST 12 MONTHS

Suncorp
AFG
ING
Citibank
Macquarie
AMP
Liberty
Pepper
Adelaide
Heritage
Rock
Keystart
La Trobe
P&N
Other
All Non

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

3.8%
4.6%
3.0%
2.2%
1.4%
2.0%
0.2%
0.3%
0.7%
0.4%
0.1%
0.1%
0.2%
0.4%
19.4%

3.6%
3.6%
3.5%
1.8%
1.5%
1.7%
0.3%
0.1%
0.3%
0.4%
0.3%
0.2%
0.1%
0.3%
17.7%

3.2%
4.1%
4.1%
1.7%
1.8%
1.3%
0.4%
0.3%
0.1%
0.3%
0.3%
0.2%
0.1%
0.2%
0.4%
18.5%

3.6%
3.8%
3.0%
2.1%
1.8%
1.5%
0.2%
0.4%
0.1%
0.2%
0.1%
0.1%
0.1%
0.1%
0.5%
17.4%

4.8%
3.9%
3.7%
2.5%
1.1%
1.0%
0.4%
0.3%
0.2%
0.2%
0.2%
0.1%
0.1%
0.1%
0.1%
18.7%

5.1%
3.5%
3.2%
3.3%
1.5%
0.9%
0.3%
0.4%
0.3%
0.5%
0.2%
0.1%
0.2%
0.1%
19.6%

5.3%
2.9%
2.9%
2.1%
1.5%
1.9%
0.4%
0.3%
0.1%
0.4%
0.1%
0.1%
0.1%
0.4%
18.5%

6.2%
3.8%
2.8%
2.9%
2.3%
2.6%
0.5%
0.3%
0.5%
0.1%
0.1%
0.2%
0.3%
22.5%

6.7%
3.4%
2.5%
2.3%
1.8%
1.7%
0.5%
0.4%
0.1%
0.7%
0.3%
0.1%
0.3%
0.2%
21.0%

7.9%
3.8%
3.2%
2.8%
1.9%
2.0%
0.5%
0.3%
0.2%
0.8%
0.1%
0.1%
0.2%
0.1%
23.9%

5.4%
6.0%
3.0%
1.4%
1.7%
2.8%
0.3%
0.3%
0.2%
1.4%
0.1%
0.1%
0.2%
0.1%
23.0%

5.9%
6.3%
2.6%
1.0%
1.6%
2.0%
0.4%
0.2%
0.4%
0.7%
0.1%
0.3%
0.1%
21.6%

Abbreviations:
AFG = AFG Home Loans; ING = ING Direct; BOM = Bank of Melbourne; Macquarie = Macquarie Bank; MP = AMP Bank; Liberty =
Liberty Financial; Pepper = Pepper Homeloans; Adelaide = Adelaide Bank; Heritage = Heritage Building Society; Rock = The Rock
Building Society; La Trobe = La Trobe Financial; P&N = Police & Nurses Mutual Banking

www.afgonline.com.au

TABLE 3
MAJOR LENDER MARKET SHARE REFINANCING LAST 12 MONTHS
BankWest
CBA
Bank SA
BOM
St George
Westpac
ANZ
Homeside
NAB
All Majors

May
6.0%
15.1%
1.5%
5.7%
15.6%
18.1%
10.3%
4.7%
77.0%

Jun
5.5%
14.0%
0.7%
7.4%
15.1%
23.7%
11.2%
2.7%
80.3%

Jul
8.2%
13.7%
1.9%
6.0%
15.0%
24.1%
8.5%
2.5%
79.9%

Aug
8.1%
15.1%
1.2%
0.3%
4.2%
14.0%
25.6%
9.0%
3.3%
80.5%

Sep
6.8%
13.7%
1.3%
1.4%
5.5%
13.8%
26.6%
9.9%
1.1%
78.7%

Oct
5.2%
14.1%
1.9%
1.0%
4.5%
15.1%
26.0%
9.7%
3.1%
80.6%

Nov
4.4%
12.7%
0.9%
1.4%
4.6%
14.0%
34.9%
6.9%
1.1%
80.9%

Dec
5.3%
12.9%
1.7%
1.9%
3.7%
12.7%
24.8%
8.5%
1.6%
73.1%

Jan
5.6%
14.7%
1.4%
1.7%
4.3%
12.5%
24.7%
9.8%
2.5%
77.2%

Feb
5.0%
10.1%
1.4%
1.6%
3.0%
11.7%
29.0%
9.3%
2.3%
73.4%

Mar
5.7%
10.4%
0.7%
4.3%
7.6%
12.5%
21.4%
10.2%
2.0%
74.8%

Apr
5.6%
14.4%
1.3%
2.8%
7.2%
12.7%
20.1%
10.6%
1.3%
76.0%

Jan
5.3%
3.7%
1.9%
3.5%
2.9%
3.0%
0.5%
0.6%
0.2%
0.7%
0.1%
0.4%
22.8%

Feb
6.6%
3.6%
2.6%
4.8%
3.3%
3.0%
0.7%
0.5%
0.2%
0.7%
0.1%
0.2%
0.2%
0.1%
26.6%

Mar
2.6%
7.5%
2.6%
2.2%
2.7%
4.1%
0.5%
0.5%
0.1%
1.9%
0.2%
0.1%
0.1%
0.1%
25.2%

Apr
3.6%
7.9%
2.1%
1.7%
2.5%
3.5%
0.5%
0.3%
0.6%
0.7%
0.1%
0.2%
0.3%
24.0%

TABLE 4
NON MAJOR LENDER MARKET SHARE REFINANCING LAST 12 MONTHS

Suncorp
AFG
ING
Citibank
Macquarie
AMP
Liberty
Pepper
Adelaide
Heritage
Rock
Keystart
La Trobe
P&N
Other
All Non

May
3.3%
5.4%
2.2%
4.0%
2.2%
3.4%
0.5%
0.1%
0.3%
0.7%
0.4%
0.1%
0.2%
0.2%
23.0%

Jun
2.6%
4.2%
2.5%
3.3%
2.2%
2.5%
0.2%
0.3%
0.4%
0.4%
0.4%
0.3%
0.1%
0.3%
19.7%

Jul
2.2%
4.5%
4.0%
2.4%
2.6%
1.7%
0.7%
0.6%
0.3%
0.3%
0.3%
0.1%
0.1%
0.3%
20.1%

Aug
2.4%
3.7%
2.4%
3.7%
2.8%
1.8%
0.5%
0.7%
0.1%
0.2%
0.1%
0.3%
0.8%
19.5%

Sep
3.0%
4.2%
3.5%
4.0%
1.3%
1.4%
0.8%
0.6%
0.3%
0.1%
0.2%
0.2%
0.2%
1.5%
21.3%

Oct
2.9%
3.4%
2.5%
4.7%
2.0%
1.5%
0.7%
0.5%
0.4%
0.3%
0.3%
0.1%
0.1%
19.4%

Nov
3.0%
3.1%
2.7%
3.1%
1.8%
3.2%
0.6%
0.4%
0.2%
0.5%
0.1%
0.1%
0.1%
0.2%
19.1%

Dec
5.1%
4.3%
3.0%
4.9%
3.2%
4.3%
0.8%
0.6%
0.4%
0.1%
0.2%
26.9%

Abbreviations:
AFG = AFG Home Loans; ING = ING Direct; BOM = Bank of Melbourne; Macquarie = Macquarie Bank; MP = AMP Bank; Liberty =
Liberty Financial; Pepper = Pepper Homeloans; Adelaide = Adelaide Bank; Heritage = Heritage Building Society; Rock = The Rock
Building Society; La Trobe = La Trobe Financial; P&N = Police & Nurses Mutual Banking

www.afgonline.com.au

TABLE 5
MAJOR LENDER MARKET SHARE INVESTOR LAST 12 MONTHS
BankWest
CBA
Bank SA
BOM
St George
Westpac
ANZ
Homeside
NAB
All Majors

May
7.7%
18.6%
1.5%
6.6%
21.3%
14.9%
8.5%
3.3%
82.4%

Jun
6.9%
16.4%
1.0%
7.0%
22.2%
16.2%
9.7%
4.3%
83.7%

Jul
9.1%
16.1%
0.8%
7.0%
22.5%
17.7%
8.2%
3.0%
84.4%

Aug
7.7%
17.6%
1.3%
0.5%
5.2%
22.3%
17.1%
7.3%
4.8%
83.8%

Sep
7.2%
17.2%
0.9%
1.1%
7.0%
20.1%
19.5%
7.9%
2.3%
83.2%

Oct
6.3%
18.2%
1.0%
2.0%
5.0%
21.2%
17.1%
8.1%
4.5%
83.4%

Nov
5.7%
17.0%
0.8%
1.7%
5.2%
19.0%
23.9%
7.1%
3.9%
84.3%

Dec
5.5%
16.3%
1.1%
2.7%
3.4%
20.3%
20.5%
8.7%
2.2%
80.7%

Jan
5.4%
17.3%
1.3%
4.0%
6.0%
15.9%
20.5%
8.9%
5.5%
84.8%

Feb
5.0%
16.8%
1.0%
2.0%
4.9%
16.2%
21.6%
8.6%
3.6%
79.7%

Mar
4.9%
14.9%
0.6%
3.4%
7.0%
19.9%
17.4%
8.9%
3.0%
80.0%

Apr
6.3%
16.4%
0.7%
1.5%
7.9%
21.1%
17.1%
9.5%
2.3%
82.8%

TABLE 6
NON MAJOR LENDER MARKET SHARE INVESTOR LAST 12 MONTHS

Suncorp
AFG
ING
Citibank
Macquarie
AMP
Liberty
Pepper
Adelaide
Heritage
Rock
Keystart
La Trobe
P&N
Other
All Non

May
2.2%
6.0%
2.0%
2.2%
1.8%
2.1%
0.2%
0.3%
0.2%
0.3%
0.2%
0.1%
17.6%

Jun
2.1%
4.1%
2.2%
1.4%
2.3%
2.5%
0.6%
0.3%
0.1%
0.2%
0.2%
0.3%
16.3%

Jul
2.4%
4.2%
2.6%
1.6%
2.0%
1.2%
0.2%
0.1%
0.2%
0.7%
0.1%
0.3%
15.6%

Aug
2.4%
4.6%
2.6%
1.8%
1.8%
1.7%
0.1%
0.2%
0.2%
0.2%
0.1%
0.1%
0.4%
16.2%

Sep
3.1%
3.9%
2.5%
2.7%
1.8%
1.4%
0.5%
0.2%
0.2%
0.2%
0.3%
16.8%

Oct
3.0%
4.1%
2.0%
2.6%
2.3%
1.3%
0.1%
0.3%
0.3%
0.2%
0.3%
0.1%
16.6%

Nov
3.6%
2.7%
2.1%
1.9%
2.2%
2.1%
0.1%
0.3%
0.1%
0.4%
0.1%
0.1%
15.7%

Dec
3.6%
3.5%
1.8%
3.2%
2.9%
3.1%
0.3%
0.1%
0.4%
0.2%
0.1%
0.1%
19.3%

Jan
3.9%
2.9%
1.7%
1.7%
2.0%
2.1%
0.2%
0.3%
0.1%
0.1%
0.2%
15.2%

Feb
6.2%
3.4%
2.3%
3.0%
1.9%
1.7%
0.5%
0.1%
0.1%
0.5%
0.2%
0.4%
20.3%

Mar
3.1%
6.3%
2.0%
1.1%
2.0%
3.0%
0.2%
0.4%
0.2%
1.3%
0.2%
0.1%
0.2%
20.0%

Apr
3.7%
5.0%
1.9%
1.2%
1.5%
2.5%
0.3%
0.1%
0.2%
0.4%
0.1%
0.3%
17.2%

Abbreviations:
AFG = AFG Home Loans; ING = ING Direct; BOM = Bank of Melbourne; Macquarie = Macquarie Bank; MP = AMP Bank; Liberty =
Liberty Financial; Pepper = Pepper Homeloans; Adelaide = Adelaide Bank; Heritage = Heritage Building Society; Rock = The Rock
Building Society; La Trobe = La Trobe Financial; P&N = Police & Nurses Mutual Banking

www.afgonline.com.au

TABLE 7
MAJOR LENDER MARKET SHARE FIRST HOME BUYERS LAST 12 MONTHS
BankWest
CBA
Bank SA
BOM
St George
Westpac
ANZ
Homeside
NAB
All Majors

May
15.2%
26.0%
1.1%
8.0%
10.3%
9.4%
5.2%
2.2%
77.4%

Jun
13.1%
23.7%
0.7%
0.5%
8.2%
9.2%
10.8%
8.8%
2.0%
77.0%

Jul
17.5%
23.4%
1.7%
5.7%
8.3%
11.3%
8.4%
1.2%
77.5%

Aug
14.4%
23.0%
1.5%
0.5%
6.5%
7.8%
16.5%
7.0%
0.8%
77.7%

Sep
12.6%
23.0%
1.2%
1.2%
6.5%
8.8%
11.1%
6.2%
1.4%
72.0%

Oct
10.2%
26.6%
0.9%
1.3%
6.4%
6.5%
12.5%
6.3%
1.4%
72.1%

Nov
10.8%
23.3%
0.8%
1.2%
6.9%
8.5%
12.8%
6.2%
2.0%
71.5%

Dec
8.9%
22.7%
1.3%
0.9%
5.0%
9.4%
16.8%
7.0%
0.5%
72.5%

Jan
12.6%
19.9%
1.6%
0.6%
6.0%
6.7%
17.3%
7.0%
0.8%
72.5%

Feb
12.5%
16.9%
0.5%
1.6%
5.1%
6.0%
17.5%
9.5%
1.3%
70.9%

Mar
11.9%
19.0%
1.0%
3.4%
6.4%
6.6%
11.8%
8.5%
1.6%
70.2%

Apr
10.5%
22.9%
1.7%
3.0%
6.1%
8.0%
8.9%
8.7%
1.5%
71.4%

TABLE 8
NON MAJOR LENDER MARKET SHARE FIRST HOME BUYERS LAST 12 MONTHS

Suncorp
AFG
ING
Citibank
Macquarie
AMP
Liberty
Pepper
Adelaide
Heritage
Rock
Keystart
La Trobe
P&N
Other
All Non

May
10.1%
2.6%
5.2%
0.8%
0.2%
1.0%
0.1%
0.7%
0.3%
0.8%
0.8%
22.6%

Jun
10.3%
2.5%
6.7%
0.8%
0.4%
0.1%
0.1%
0.6%
0.3%
0.3%
0.1%
0.3%
0.5%
23.0%

Jul
8.3%
2.7%
7.0%
1.3%
0.8%
0.2%
0.2%
0.1%
0.1%
0.4%
0.8%
0.4%
0.2%
22.5%

Aug
9.4%
2.9%
5.7%
1.6%
0.4%
0.5%
0.2%
0.4%
0.6%
0.1%
0.3%
0.2%
22.3%

Sep
13.7%
3.3%
6.2%
2.5%
0.1%
0.7%
0.1%
0.1%
0.3%
0.4%
0.6%
0.1%
0.1%
28.0%

Oct
14.9%
2.1%
5.9%
2.9%
0.5%
0.4%
0.2%
0.2%
0.4%
0.4%
27.9%

Nov
15.0%
2.1%
5.5%
1.9%
0.4%
0.7%
0.6%
0.1%
0.1%
0.2%
0.3%
0.3%
0.1%
0.2%
1.0%
28.5%

Dec
14.7%
2.8%
4.2%
1.2%
1.2%
0.9%
0.8%
0.4%
0.6%
0.1%
0.1%
0.2%
0.3%
27.5%

Jan
16.4%
1.9%
4.1%
0.8%
1.3%
0.4%
1.1%
0.3%
0.6%
0.1%
0.1%
0.2%
0.2%
27.5%

Feb
17.4%
3.1%
4.2%
0.9%
1.0%
0.5%
0.1%
1.1%
0.5%
0.3%
29.1%

Mar
15.7%
3.3%
4.8%
1.0%
0.8%
1.9%
0.3%
0.1%
1.5%
0.4%
29.8%

Apr
14.8%
5.2%
4.5%
0.5%
1.0%
0.9%
0.4%
0.1%
0.5%
0.1%
0.3%
0.2%
0.1%
28.6%

Abbreviations:
AFG = AFG Home Loans; ING = ING Direct; BOM = Bank of Melbourne; Macquarie = Macquarie Bank; MP = AMP Bank; Liberty =
Liberty Financial; Pepper = Pepper Homeloans; Adelaide = Adelaide Bank; Heritage = Heritage Building Society; Rock = The Rock
Building Society; La Trobe = La Trobe Financial; P&N = Police & Nurses Mutual Banking

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