Economy

Challenger bank AMP has announced that it will be increasing variable rates for interest-only loans and owner-occupied principal and interest loans.

The Financial Services Council has appointed AMP’s group executive for advice and New Zealand to its board of directors and to the role of co-chair of its Advice Board Committee.

Nearly a quarter of Australians worry about their finances on a daily basis, new research has found, which the CEO of Mortgage Choice has said is a “startling statistic”.

The global investment bank believes Chinese demand for Australian property will continue to grow and actually soften the blow of the “coming downturn”.

Listed non-bank lender Pepper has priced its $900 million Pepper Residential Securities Trust No 18 (PRS18) RMBS issue.

A judge has dismissed claims from a client that negligent advice from Commonwealth Bank-owned Count Financial resulted in the loss of their life savings.

The Commonwealth Bank has named its next group chief financial officer to replace the outgoing David Craig, who leaves the bank on 30 June 2017.

A recent report by a housing industry body has predicted that home renovations will become an increasingly important part of the residential building industry over the next few years.

A regional bank has today announced a 25 basis point rate increase to its variable rate investor home loans, pushing its new rate above 6 per cent.

The chief executive of one of Australia’s largest banks has outlined the group's distribution strategy following a multi-million investment in its mortgage business.