One of the findings of the lankmark 600 page report in the financial sector was that bank ownership of mortgage brokers like Aussie and RAMS increased conflicts and carried the obvious risk that consumers have an illusion of choice. Another thing to consider is mortgage brokers like Mortgage Choice who are listed on the stock exchange. The report also found that institutions listed on the stock exchange put the interests of their shareholders before their customers. So it begs the question: who owns my bank (or broker)?
Below is a brief outlook on ownership of some Australian lenders.
Some other noteworthy mentions:
What about Winning Home Loans?
Winning Home Loans is a 100% owned Australian family business. No banks, financial institutions or mortgage aggregators have any interest in the ownership of our business.
For more information please contact us.