Mortgage aggregator Vow Financial has added four non-major bank lenders to its lending panel in a move it claims is indicative of a trend away from the big four banks.
Commenting on the move, Vow chief executive Tim Brown said that over the past few months the company had definitely noticed a movement towards the non-major banks and other smaller and more innovative financial institutions.
"Thirty-two per cent of our business is now being done outside Commonwealth Bank, ANZ, Westpac and National Australia Bank," he said. "This reflects the mood of the market whereby it’s not just the brokers who are looking for greater choice, but also their clients who are looking outside the more traditional financing options."
