Banks gear up for bruising battle to reconquer the mortgage market

Banks are pinning their hopes on older, more sophisticated customers who are comfortable digitally negotiating their home loans as they prepare for a bruising battle to claim back territory lost to the mortgage broking industry.

The bankers’ strategy involves them luring new customers who wish to refinance their home loans by offering enticing rates that are below what they could obtain if they used a mortgage broker, or even if they visited a bank branch.