Home Loans & Mortgages

That brings up a few questions for the Prime Minister.

So Julia Gillard, how will you sort out this mess? In particular….
How will you overturn the ability of the banks to bleed the “hard-working families” white and take most of their pay packets through high margins?
How do you plan on stopping the coming wave of foreclosures and the homelessness of hard-working Australians?
How will you keep the non and bank mortgage sectors apart and return then to a truly competitive picture to reduce interest rates.
How will you ensure that a new raft of mortgage players can easily enter the mortgage market to drive down interest rates?
If the HSCB bank in the UK can provide mortgages on a margin of 0.49%pa why do our banks need a margin over six times that amount?
When will Labor stop encouraging in anti-competitive behaviour?
How will you break the Big Four Bank Cartel?

If you can get a better loan interest rate just by asking, what does that tell you about the bank? Its ripping all their clients off! So why would you continue to do business with them at all? As an analogy, if you discovered your baker was taking a slice out of every loaf he sold you for the last two years, would you be happy if he just said he would stop robbing you from now on? No. So why does this logic not apply to home loans?

The Commonwealth Bank Of Australia is the first bank in Australia to denounce the no deposit loan as not meeting their new tightened guidelines. But will that eventually come back as jingle mail to haunt them if other lenders won’t refinance their bad loans?

Home Loan Lenders want the law changed to capture more of your financial details. Here’s a test of just how savvy a consumer you are: when was the last time you checked your credit file? For most of us, the answer would be never. Many people probably don’t even know there are two credit bureaus [...]

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 [...]