36% plan to switch lenders: poll

Posted on 2/02/2011  

One in three mortgage holders are considering switching lenders if exit fees are axed,while a further 17% are undecided, according to a poll by PRDnationwide.

PRDnationwide research director Aaron Maskrey says record numbers of borrowers are looking to refinance, thanks to the publicity surrounding the Federal Government's proposed banking reforms.

The survey found 36% of respondents want to change lenders. A further 17% of respondents are undecided, while 47% say they will not switch.

“It’s a great time for home owners to see if they can secure themselves a better deal,” says Maskrey. “In some cases property owners can save hundreds of dollars per month by shopping around for a new lender.”

Treasurer Wayne Swan's ban on exit fees is proposed to take effect from 1 July.



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