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Economy

AMP advisers drive new mortgage business

AMP Bank is seeing more new mortgages written through its financial advice channel.

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YBR expands WA footprint

Yellow Brick Road has opened seven new branches in Western Australia as it continues to broaden its operations.

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QBE to float LMI business

Insurance giant QBE has announced plans for the partial float of its Australian lenders’ mortgage insurance business.

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Mortgage industry split on rate cuts

Comments made by former Australian Competition and Consumer Commission chair Alan Fels has divided opinions, with one aggregation group saying banks have margin to spare and a funder arguing ...

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Major bank customers disloyal: survey

While the big four banks have made small gains in product cross-selling since 2010, the average bank customer continues to deal with over four financial institutions, according to Roy Morgan

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Australians continue to feel financial pressures

Australian households are feeling poorer and plan to save more and spend less, according to new research from ING Direct.

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Clients of collapsed broker group $11.5 million out of pocket

Creditors of an insolvent mortgage and financial services group are facing a multimillion-dollar haircut, as the liquidator investigates whether the director should be charged.

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Banks face class action over fees

Maurice Blackburn Lawyers this week filed a class action against Westpac, Citibank, St George, Bank of South Australia and ANZ in relation to customers charged with late bank fees.

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Broker groups to buy into wealth sector

An M&A consultant is seeing increasing interest from large broker groups eager to acquire financial planning businesses.

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CEO of regional bank resigns

The chief executive of one of Australia’s regional lenders today announced his resignation.

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