Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Big bank posts record profit on mortgage growth

Notify me of new replies via email
Australian Broker | 31 Oct 2013, 08:00 AM Agree 0
One of Australia's major banks has swallowed up a heavy share of the mortgage market, growing its portfolio by $20.6 billion in the last year
  • Kiran | 31 Oct 2013, 10:01 AM Agree 0
    As a client and broker I can say that NAB ranks close to the bottom - check them out on facebook for some genuine customer feedback. Finance brokers who support the majors have forgotten that they only provide a service (NAB takes 3 business days to provide an existing client with a DDR form - while ANZ has announced it will take 5 business days to pick up a broker application, CBA on the other hand will provide in 1.5% discount off variable rate - what about existing clients who will bear this cost?). Mortgage Managers and Second tier lenders are offering brokers and clients amazing service, fuel discounts, fee for service products with no ongoing fees, offsets on fixed rate products .... the list is long ..
  • Country Broker | 31 Oct 2013, 10:19 AM Agree 0
    Being a broker in regional Australia , I am forced to use the big 4 at times due to security types and location. My preference is to stay away but I must say once the ANZ and CBA approve the deal which can be a slow and tedious process, they perform with documentation and settlement > I really prefer some of the non majors with white branded products , but they are restricted . Clients also at times when you use the comparisons tables and sites of our aggregator and show them that a non bank may be better will still ask for a Big 4 . We also need to remember the profits of the big 4 do make them some of the best and strongest banks in the world and that means we can have some comfort they will continue to lend.
  • Positive Broker | 31 Oct 2013, 10:51 AM Agree 0
    NAB / Homeside are far and away the worst bank to deal with. Terrible service, woeful BDM support. I refuse to recommend them.
  • happy homeside supporter | 31 Oct 2013, 03:37 PM Agree 0
    I can honestly say that I am extremely happy with the service I receive from NAb broker, especially their BDM's. I am a NSW broker and send upwards of 80% of my files to Nab as they provide the best service. Keep up the good work!
  • NoTimeLikeTheFuture | 01 Nov 2013, 12:43 PM Agree 0
    Imagine what a 'negative broker' would sound like..!! hehe

    I am very happy with NABbroker and out of ALL lenders they behaved the BEST during the GFC (actually increasing overall comms while giving us free vals and inventing rate for risk).
    Westpac behaved the worst by far btw
  • Positive Broker | 01 Nov 2013, 01:56 PM Agree 0
    Fair comment No Time Like the Future! I just have a lot of horror stories with Homeside / NAB. I just can't even get a BDM or anyone to call me back. Maybe it's just me. lol. On the positive side I have a lot good stories about ANZ and some second tier lenders!
  • Papery | 02 Nov 2013, 12:53 PM Agree 0
    NotTimeLikeThe it in one
    Homeside are top of mind, they just dont hit the mark sometimes with policy & LVR & LMI capping. I think HSL/NAB have paid for their sins (at least in Qld). Give me a Big4/major 2nd teir lender over a Mickey Mouse fee gouging bit player any day!
  • Reg | 17 Dec 2013, 01:01 PM Agree 0
    If the big banks have a tough year, they ask and get help from the government. If Joe average, hard working taxpayer and family man has a tough year, the big banks sell his house and throw him and his family on the street, so the banks can never lose and their profits will always grow and they can and always will pay big bonuses and $10m salaries to themselves as reward for their perceived performance.
Post a reply