Home Loans & Mortgages

The Commonwealth Bank of Australia [CBA] has just dropped the home loan rate on its recently introduced ”no fee” home loan offer to 7.11% in response to other major players offering deep discounts in order to attract home buyers and mortgage refinance customers in a slow mortgage market.

Bendigo Bank wants to expand wealth management with its $1.2 billion bid for wholesale customer darling Adelaide Bank. Bendigo and Adelaide, which hold the top two positions in Roy Morgan’s poll of banking customer satisfaction, will become a $4 billion company and break into the top 70 listed companies in Australia after the merger. Bendigo [...]

Bank Leaders from Australia’s biggest banks and home loan lenders have blamed both sides of politics for being lazy and ignoring the national housing affordability crisis. Ralph Norris, chief executive of the Commonwealth Bank, and Aussie Home Loans founder John Symonds, said the problem of not being able to afford a home was becoming worse for many consumers. [...]

The Bank of Queensland shows the US banks how to run a profitable bank in a down market

Its official. People don’t like big banks, and they love to hate the CBA The big four banks in my view are in a privileged position in the Australian Business World, almost cocooned and protected in law, but act as if they have made their own luck, and pay their top people accordingly. Shameful associations [...]