YBR

Bouris targets Big Four complacency

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Challenger brand Yellow Brick Road is tackling big bank complacency by directly targeting the existing borrowers that they say the big four take for granted.

To spearhead the campaign Yellow Brick Road has today announced their new comparison rate of 4.07 per cent per annum to target disaffected NAB, CBA, Westpac and ANZ customers.

“We’re in the fortunate position of being a nimble, young company that can react quickly to market opportunities. Last year we capitalised on the low rate environment that saw a rush of borrowers entering the market. Leveraging our Channel Nine relationship via Celebrity Apprentice Australia,” the company’s executive chairman Mark Bouris said.

“It delivered record settlements, a pipeline full of applications and a new high in the company's home loan market share. So, we sharpened the campaign and renewed the push.”

“We’ve now identified another opportunity to take further market share from the banks and starting Sunday 14 February we will launch our latest offering: a direct challenge to the big four banks with one of the sharpest rates available today,” he said.

The relationship with key shareholder Nine Entertainment means the company can market in an impactful and highly efficient way, Mr Bouris said.

Yellow Brick Road has had a recent record month in settlements (51 per cent increase) and achieved the company’s highest ever share of the Australian home loan market (4.55 per cent) largely on the back of their 2015 marketing campaign.

“In a flat market the game is to refinance the books of other entities and we’re finding that much of the business we’re sourcing is coming from the big four.”

This accords with the findings of Credit Unions Australia that around 42 per cent of mortgage holders have considered switching lenders in the past six months. That's up from 31 per cent in May 2015.
“They [banks] may be big but they’re not invincible. In this environment, as Kerry Packer once famously said, ‘no one is safe’.”

The home loan challenge campaign is the first in a series of three advertisements being rolled out over three months initially promoting Yellow Brick Road’s home loan challenge, and later focussing on financial advice and superannuation.

 

For more information, contact:

Abby Hempfling

PR and Communications Manager

M 0450 769 337; E abby.hempfling@ybr.com.au

 

About Yellow Brick Road Group

Yellow Brick Road is a group of wealth management and financial services companies headed by Executive Chairman Mark Bouris. Yellow Brick Road offers tailored advice and services to Australians wanting to build financial security for the future. With its extensive neighbourhood based branch network, Yellow Brick Road Group is committed to delivering accessibility, quality financial advice and competition in the market.  For more information visit www.ybr.com.au.