Updated Sep 2, 2026 – 3.57pm, first published at 12.00pmMortgage borrowers across the country are switching $1 billion across lenders every day, forcing banks to fight over a shrinking pie and sharpen their efforts to retain customers.About 664,000 home loan customers holding $371 billion of mortgage balances shifted lenders in the year to June 30 – an increase of 13 per cent on the amount switched in the 2024-25 financial year.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Hundreds of borrowers will switch lenders today. Here’s what it costs the sector
Mortgage borrowers are increasingly shopping around for better deals amid higher interest rates and broader cost-of-living pressures.
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