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Smaller lenders pick up share

Smaller mortgage lenders are making strong market share gains, according to the mortgage aggregator AFG. Since March, the proportion of "non-major" loans written by AFG's brokers has increased from 20.7 per cent to 26.4 per cent.AFG's general manager of sales and operations, Mark Hewitt, said in a statement that smaller lenders had picked up share among all buyer groups - investors, first-home buyers and home-owners who are re-financing.AFG brokers wrote 8482 loans in July, worth A$3.4 billion. The figures, which tend to be volatile, were up on the June figures, but down on May's numbers.

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