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Foreign banks lending on UK shores

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Australian Broker | 25 Aug 2009, 08:30 AM Agree 0
While foreign banks fled Australian shores due to the GFC, they are returning to the UK due to reduced competition, according to reports
  • marty | 25 Aug 2009, 10:43 AM Agree 0
    hope so.
  • christine | 25 Aug 2009, 02:39 PM Agree 0
    I hope they do, we need the competition.
  • brizbroker | 25 Aug 2009, 09:36 PM Agree 0
    With all due respect Marty and Christine- there is already plenty of competition in the market, but no one uses it!
  • Tuff guy | 26 Aug 2009, 01:08 PM Agree 0
    Brizbroker, let me guess, Non Banks? Non Bank lenders are dead.
  • marty | 26 Aug 2009, 02:47 PM Agree 0
    need real competition which means full service banking and no 2% DEF's
  • tba | 26 Aug 2009, 04:41 PM Agree 0
    if it werent for the extremely high DERF's (2.2% for some resimac products), i may consider placing a loan through them. but as it stands, the banks have great products, offset accounts, all the bells and whistles with a very attractive rate and very low exit fees.

    the non-banks need to pull their socks up and realise that they will be extinct if they dont pull their game!
  • brzbroker | 26 Aug 2009, 09:35 PM Agree 0
    You cant have it both ways. You either want competition or not. If non banks reduced DEF's they'd have to reduce your commissions and introduce clawback. Lets keep doing it your way and see where that gets us. Its been spectacularly successful for the banks so far.
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