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City Pacific Finance sold for $2.2m
By Larry Schlesinger
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Thursday, 4 December 2008
Finance broking franchise City Pacific Finance, part of troubled listed non-bank lender City Pacific, has been sold to OneLend Corporation for $2.2m.
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BankWest passes on more to Rate Tracker
By Larry Schlesinger
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Thursday, 4 December 2008
BankWest has passed on 91bps to its highly popular Rate Tracker product - while passing on 85pbs to it variable rate mortgage portfolio.
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Challenger revamps mortgage operations
By Larry Schlesinger
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Thursday, 4 December 2008
Challenger's mortgage management division has been restructured internally to help its aggregator partners take advantage of a "full suite of resources".
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Members Equity Bank falls in line with 100bps cut
By BN
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Thursday, 4 December 2008
Following in the footsteps of the CBA, NAB and Aussie, Members Equity Bank has announced a 100bps cut to its standard variable products.
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NAB passes on 100bps cut to HomeSide
By Larry Schlesinger
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Thursday, 4 December 2008
NAB has announced that it will pass on Tuesday's entire 100bps rate cut to its HomeSide variable rate products - in line with the reduction for holders of NAB-branded variable mortgages.
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St.George more generous than Westpac
By BN
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Thursday, 4 December 2008
Sticking to its promise to stay competitive after its merger with Westpac, St.George has followed its new parent's 80bps reduction by slashing 85bps off its standard variable products.
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Jennifer Nielsen quits Loan Market
By Larry Schlesinger
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Wednesday, 3 December 2008
Loan Market CEO Jennifer Nielsen will quit the mortgage broking group at the start of next year (1 January) to take up a new role as head of online and marketing for real estate franchise Ray White.
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Aussie drops rates lower than CBA
By Agnes Gajewska
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Wednesday, 3 December 2008
Undercutting its 33% investor, the CBA, Aussie Home Loans has announced it would be passing on the full 100bps RBA rate cut to provide borrowers with a rate lower than any of the majors.
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Rates: BankWest ‘undecided’, St.George ‘reviewing’
By Larry Schlesinger
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Wednesday, 3 December 2008
Variable rate borrowers with BankWest are still waiting to hear whether the bank will pass on yesterday’s 1% RBA rate cut.
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MFAA: Most borrowers won’t lower repayments
By Larry Schlesinger
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Wednesday, 3 December 2008
MFAA says many borrowers will continue to make higher mortgage repayments, despite the RBA cutting rates by 1% yesterday.
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100bps rate cut to fuel housing activity
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Tuesday, 2 December 2008
With the RBA slashing rates by 100bps today, brokers will be buoyed by a housing market poised for a significant increase in activity amid improving buying conditions and easing affordability constraints.
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Rate cuts: CBA, NAB more generous than Westpac, ANZ
By Agnes Gajewska
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Tuesday, 2 December 2008
While historically banks have taken a comparable stance on RBA rate cuts, Tuesday's 100bps reduction has seen a 20bps rift between the majors.
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High LVR products remain part of Westpac mix
By AB
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Tuesday, 2 December 2008
Westpac has bucked the trend of its rivals by revealed no plans to cut its high LVR products.
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Futures markets predicting 2.75% cash rate by April
By Larry Schlesinger
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Tuesday, 2 December 2008
Australia's futures exchange is predicting that interest rates will fall as low as 2.75% by Easter next year.
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Regulation will encourage credit unions to use brokers
By AB
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Tuesday, 2 December 2008
National licensing of brokers will encourage building societies and credit unions to embrace the mortgage broking channel, according to CEO of ABACUS, Louise Petschler
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