Bet you don't know Australia's 6th biggest residential lender !!
This WILL surprise you. See the graph. Loan Market NSW lender market share changes each month based on the quality of the product and the service, but the graph is reasonably representative. The one shown is May 2017. ANZ 22%, CBA 19% (a bit lower than historically), StGeorge 16% (a bit higher than historically), NAB 9%, Westpac 8%, Advantedge 6%, ING 5%, AMP, Bankwest and Macquarie usually 2-4% each.... So what's this "Advantedge" product ??
It's the biggest "white label" residential mortgage product in Australia (by far). Advantedge is a NAB owned subsiduary, and the product is currently NAB funded. So Advantedge is basically a full functioning "home loan bank" within a bank. The product is branded lots of different ways for different aggregators - our companies loan is called "Loan Market Go" and it's extremely popular with our customers. It has no branch network, and the commission I receive as a broker for introducing that product is much the same as other lenders.
So why is it so popular ? It succeeds on the quality of the product, quick approval times, and high quality (on-shore) customer support for both the client and the broker. Most of the majors best home loan rates right now is 4% or over. The Loan market Go rate is 3.74%. Next best rate (today) in the known brand lenders I mentioned earlier are ING bank (3.79% (slightly higher fees but has an offset account), StGeorge 3.88% (is a basic loan lower fees) .... it's not just about rate, but it's a strong factor.