I disagree. I think the pressure the non bank lenders such as Rams, Wizard have been putting on people have encouraged plenty of these people to re-finance. Some of this business has gone to Morgage Choice.
New CEO is also keen to implement other services to Mortgage Choice customers such as insurances etc - just like the banks do.
2010/11 will see other non-bank lenders enter the market and want to make great use of mortgage brokers to increase market share. RHG formerly RAMS will be able to re-enter the mortgage market for example and they have plenty of cash - there will be others.
This could also be taken over by Count or other Financial Institutions. This stock is unloved and I believe next set of Financial reports will alleviate some of the fears that currently exist in the market at the moment.
MOC Price at posting:
92.0¢ Sentiment: Buy Disclosure: Held
