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Jessica Darnbrough
In a bid to ramp up its presence in the mortgage market, Citibank has said it will continue to act aggressively on pricing and policy.
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Speaking to The Adviser, Citibank’s Matt Wood said the lender was currently looking at various ways to dramatically grow its volumes.
“The GFC forced us to pull right back from the market. But, that is now in the past and we want to let our brokers know that we are back and open for business,” he said.
“We know we can’t use pricing as our sole lever to drive business through our front door, which is why we are also always looking at ways to improve our policies.
“90 per cent of our business comes through the broker channel. We see them as our business partners and we want to help them grow their business.”
Mr Wood’s comments come just days after National Mortgage Broker’s managing director Gerald Foley said second tier lenders should look at joining forces in order to ramp up their competitive position in the market.
“Maybe [the second tiers] should consider some joint advertising and agree standards around accreditation processes, loan application forms and supporting documentation requirements,” Mr Foley said.
“Start with some small steps on a long journey back to a truly competitive market.”
