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.

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 [...]

In any event the ANZ and National Australia Bank [NAB] have already scrapped mortgage exit fees, while Westpac Banking Group chief executive Gail Kelly told a Senate committee into banking competition in January that a ban was “not an overly big deal”. But was she telling the truth?
Because on theWeeend she was , saying that that’s a poor policy response by the Government.

National Australia Bank [NAB] is continuing its home loan assault on its bigger rivals by announcing the launch of new discount online home loans, designed and pitched at its main rivals weaknesses. NAB has released its home loans online under its UBank brand NAB’s UBank’s standard variable rate is currently 7.05 per cent pa which is the lowest [...]

Big Bank wars tipped on exit fees to favour the mortgage borrower. The National Australia Bank  [NAB] is an also ran in mortgage home loan lending right now and wants to grab a bigger slice of the mortgage lending pie. What better way than to drop your interest rates? Well, they did that last year [...]