bourbiza mohamed
Around half of fixed rate borrowers whose low-rate home loans are expiring over the next two years are planning to leave their current lender, but it’s those customers who can’t that might prove a bigger problem for the banks, new research finds.
Key points:
- Investment bank Barrenjoey found up to a quarter of fixed rate borrowers are ‘mortgage prisoners’
- Its survey of mortgage brokers revealed that half of customers with expiring fixed loans wanted to switch lenders
- Analyst Jon Mott is forecasting a tough time for bank profits as mortgage defaults, weak loan growth and competition weigh on…
