Home Loans & Mortgages

Westpac chief executive, Gail Kelly is not happy with Government plans to ensure that all Australians are free to move their mortgages, and has hit out at moves by the federal government to ban exit fees on home loans from July this year.
She claims that the forced abolition of the mortgage exit fees would in fact make it harder for smaller lenders to compete in the home loan market, without explaining why, and why she should care about Westpac’s competitors in the first place!

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 [...]

Mortgage fees: The Australian Labor government is about to legislate against home loan exit fees. Is this good or bad news for new home buyers ? From July 2011 home loan exit fees will be banned if the Government can pass its legislation to abolish them. The purpose of banning mortgage exit fees [or deferred [...]

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 [...]

Having offered the cheapest standard variable mortgage rate of the four banks since December last year, the demise of exit fees would be welcomed by the National Australia Bank, which stands to gain the most.