Two lenders have refunded their customers a whopping total after a warning from the Commerce Commission they were likely to have breached consumer credit laws.
The Ranfurly community will stand together in a rally today to support Westpac workers in the face of closure of the town’s only bank.
As insurance frauds go, this is definitely one of the more extreme
Australia’s 25 year-run without a recession is fostering a complacent attitude toward the economy, says Treasurer Scott Morrison
A Kiwi couple living in Western Australia’s Perth is pursuing a racial discrimination case against one of the big four Aussie banks.
In response to Kiwi dreamer, have you stopped to consider the reasons why three major retail banks have refused you further lending? If it is due to the 40% requirement for the purchase of an investment property, then that is hardly the fault of those banks. The Reserve bank is introducing the requirement. Banks tend to move early on these things so as not to have a rush of pre-approvals and the funding requirements which go with it. If it is for other reasons such as the banks concern around debt servicing, perhaps you need to consider whether it is a good idea? Start from this position, banks want to lend money, after all, much of a banks business is made from this. Therefore, if a bank says no, instead of getting upset, people should sit back and look at the reasons why.
It does seem quite a different market, we are heading to in the lending space. I get very concerned with mortgage brokers who apparently have strong relationships with certain Bank managers just to get more customers, and more deals over the line. It does seem very commission driven.
Personally I think if you require some extra lending, I think the best option is the direct approach to your bank.
It appears its for investors only, not FHB's...
I think LVR 40% will make more harder for the first home buyers. Majority of the investors are the cash buyers so I don't think this make much difference to them but it will hit more the lower range people or the first home buyers.
This week's RESIMAC Home Loans BDM has worked in financial services in the UK.
New Zealand’s largest city has seen the highest volume of sales this month since 2003.
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