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Non-major increases broker numbers by 426% in two years

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Australian Broker | 07 Nov 2014, 08:34 AM Agree 0
Non-major bank delivers 28% rise in profits driven by the boom in home loan settlements
  • Barney | 07 Nov 2014, 09:24 AM Agree 0
    These guys have some great fixed rates - though their credit process is dreadful. I won't deal with them again. They are in the dark ages. Even worse than St George - and that's saying something!!
  • Incognito | 07 Nov 2014, 09:29 AM Agree 0
    If ME Bank were a horse I'd back it (or a stock I'd buy it).

    100% Australian owned, by its members.

    There is a lot to like, starting with lowest fixed rates. I hope they thrive.
  • fed up | 07 Nov 2014, 09:45 AM Agree 0
    If ME Bank was a horse I would shoot it! I agree with Barney, horrific credit process with common sense ignored. What good is a low fixed rate if their sales prevention team (credit) keep asking for useless irrelevant things which NO other bank requests?
  • Jason | 07 Nov 2014, 10:21 AM Agree 0
    Article about this in today's Fin Review. ROE is 6.5% and cost to income ratio is 71.1%

    Hard to stay in business OR keep rates low with those numbers.
  • Coast Broker | 07 Nov 2014, 11:00 AM Agree 0
    Agree with Barney. One application was enough.
  • Broker | 07 Nov 2014, 11:04 AM Agree 0
    I used ME bank about 4 times, unbelievably hopeless with every loan placed.

    Then I lost a client due to their utter incompetence and very poor service offering, NEVER EVER AGAIN and I don’t care what they have on offer.
  • Brissy Broker | 07 Nov 2014, 11:10 AM Agree 0
    What if the client doesn't want a fixed rate, 5.18% variable is one of the worst rates in the market. If they are worse than St George, that says enough for me.
  • Incognito | 07 Nov 2014, 11:20 AM Agree 0
    Admittedly the deal I lodged there was a no-pressure regional purchase.

    I'm not yet ready to entrust a high pressure Sydney auction application there.

    Maybe their systems will catch up and get upfront vals etc. Then they might be a real contender.

    I hope so. It's good for us. And customers once there seem extra happy..
  • Ed Ridge | 07 Nov 2014, 12:35 PM Agree 0
    I must be the only one who has great service from ME staff all the way through. Also have access to upfront valuations. Strange but it all works for me and believe me I am nothing special even when it comes to broking.
  • Sydney broker | 07 Nov 2014, 03:02 PM Agree 0
    I agree with Ed. Phone call from credit to walk me through questions, great attitude! BDM helped ensure we could get to settlement in 15 days, even dropped out the docs on one! Outstanding service all round and vast imrovement over the last 12 months!
  • Damo | 11 Nov 2014, 09:42 AM Agree 0
    When they entered the broking space about 2 years ago the were woeful, lacked common sense and even drove a customer away from me so that I received a clawback!
    Recently I had no choice but to send another client to them and I was impressed, the deal went quite smoothly with no issues at all. (although I did have to remind the credit assessor that I am not a mind reader)
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