Home Loans & Mortgages

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 [...]

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.

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. [...]

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 [...]

The Green bank fees and interest rate agenda
The Greens have bills before parliament to:
Regulate interest rate rises by ensuring banks charge no more than a fixed amount above a base rate,
Force banks to offer basic, free transaction accounts to all customers,
ban Bank ATM withdrawal fees and to cap mortgage exit fees.