While more than 50 per cent of Australians have experienced “bank rage” few are willing to switch lenders.
According to a new report by Colmar Brunton on behalf of Heritage Bank, just 5 per cent of Queenslanders are looking to switch their home loan in the next 12 months.
Heritage Bank chief executive officer John Minz said the research showed the need for the federal government and smaller financial institutions to keep promoting measures that increase competition in the banking sector.
Source: The Adviser