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Aussie borrowers dump big banks after failing to pass on RBA cuts

Borrowers are flocking brokers to hunt out bargain home loan deals in the wake of the Reserve Bank's recent rate cuts, putting the big banks under pressure to keep their mortgage customers.

Interest in cheaper quality home loans is soaring as smaller lenders cut rates to jaw dropping new lows. News reports highlight that tens of thousands of Australians have taken up the Treasurer’s advice to “shop around and get the best possible deal”, with the hope of saving thousands on their home loan.

Heart Mortgage Services Director Amanda Varidel said, “Borrowers are so fed up with the big banks' bad behaviour that their latest rate cut delay tactics have been the last straw for many customers. We’re now seeing a huge shift to smaller lenders, who have been rolling out the red carpet with unbelievably competitive rates with many under or around 3%. You would be well advised to consider going with a smaller bank and reap huge savings.”

Your Choice Mortgage Brokers Pty Ltd atf Halo Innovation Trust trading as Heart Mortgage Services - Australian Credit Licence 38643

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