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CBA reaching for 100% ownership of Aussie: AFR

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Australian Broker | 23 Mar 2017, 08:25 AM Agree 0
The major bank is said to be in discussions for John Symond’s remaining shares within the mortgage franchise
  • Ray | 23 Mar 2017, 08:54 AM Agree 0
    I guess that is one broker the CBA is dealing with?
  • Check your options people. | 24 Mar 2017, 11:44 AM Agree 0
    So in the current environment with ASIC all over the Banks and Brokers.... how can ASIC allow a Major Bank to own a Major Aggregator in its entirety? Aussie Brokers nationally are already pushing the majority of their business to CBA.... how can that be ethical lending? CBA already have minimum submission requirements for brokers to retain their accreditation which is a joke in itself.
  • | 25 Mar 2017, 12:23 PM Agree 0
    sorry, but that's just not true about the majority of business going to CBA. I have been with Aussie 16 years and i hardly write much CBA or Aussie Select (which is CBA funded) at all. It's still always about the best most "Suitable" loan for the borrower. It does come and go in waves though, you know it, this month AMP have a special, last month it was Suncorp, before that it was ING. The best deal for the client is still and always has been , the best deal for the client. and you know what CBA and AHL select are in the low end of the "who pays the best commissions" stakes. so to push CBA because of some "assumed" benefit is just dumb.
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