Brendan Burgess
Founder
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I watched the webcast of ptsb's results this morning and an analyst pointed out that ptsb's mortgage drawdowns increased by 5% in the first half of the year compared to a 33% increase for the market as a whole.
Masding explained this by saying that competitors had launched new products on lower rates which made them less competitive. They have now got rid of SVRs and so they should increase their share of the market.
I think that their mistreatment of customers is generating such massive negative publicity that their brand is damaged.
Having said that, a first time buyer looking to take out a loan, probably wouldn't worry too much about reputation. They would look at the amount they can borrow and the rate.
Brendan
Masding explained this by saying that competitors had launched new products on lower rates which made them less competitive. They have now got rid of SVRs and so they should increase their share of the market.
I think that their mistreatment of customers is generating such massive negative publicity that their brand is damaged.
Having said that, a first time buyer looking to take out a loan, probably wouldn't worry too much about reputation. They would look at the amount they can borrow and the rate.
Brendan