Study reveals what investors want from lenders
Investment property owners are open to competition and lending advice, but they prefer dealing with lenders directly rather than going through a broker, research by BDRC Jones Donald has found.
The research on mortgagee attitudes towards lenders found that one in five are unhappy with their current lender, and that 56 per cent would rather deal directly with their lender than go through an agent.
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The study also found that 69 per cent of respondents say the market would benefit from more lenders and more competition.
Nearly half were worried about their ability to repay their loan if rates rise.
The survey sought the responses of 500 landlords across Australia who own one or more investment properties.
BDRC Jones Donald managing director Roger Donbavand said it is the more experienced property investors who would be most interested in dealing directly with lenders.
"More experienced investors believe they would be able to strike a better deal and make savings," he said."There is far more potential than banks see. Not everyone is comfortable with it [dealing with them directly], but banks need to be thinking of beefing up that market".
