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 [...]

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 [...]

There has been a lot of talk over the last year about the major banks, headed by the Commonwealth Bank, looking for ways to jack up home loan interest rates independent of rate rises by the Reserve Bank of Australia. The major four banks in Australia all posted record profits last year, and want to continue this trend with increasing lending costs since the Government removed its guarantee given to major bank when the Global financial crisis hit.

The deposit guarantee enjoyed by Australia’s banks for their customers deposits ended last year after comments by Reserve Bank of Australia’s [RBA] Governor Glenn Stevens were heeded.
Australia’s mortgage home loan finance costs were probably lowered as a result of the Government guarantee, and desposit customers concerned about any banks strength would have otherwise fled to other banks overseas that issued guarantees.