Official data shows a significant rise in loans written by Macquarie as competition in the market remains elevated, forcing lenders to lower interest rates.
Non-bank lenders that have faced a competitive onslaught from the big banks say mortgage buffers did their job, but now risk doing more harm than good.
As the majority of borrowers on fixed-rate loans begin to roll off later this year, brokers are stepping in and repricing clients’ loans, saving them thousands.