Lender

Lenders have begun to respond to August’s 50-bp lift, with all of the big four banks passing on the full rate.

The major bank has confirmed that it has concluded its sale of Westpac Life Insurance Services to TAL Dai-ichi Life Australia.

A new, low-interest-rate concessional loan is set to be rolled out by the ACT state government to help apartment building owners remove and replace combustible cladding.

Rising cost of funds are impacting both banks and non-banks at the moment, but should ease from next year, the non-bank lender’s treasurer has noted.

The Australian presence of foreign banks grew over 2021, according to a new MinterEllison report.

The bank’s mortgage portfolio continues to grow, after having risen 8 per cent in the June quarter to $9.9 billion.

Customers refinancing to Westpac’s Flexi First Option basic home loan will be the first to access the bank’s new digital mortgage, set to roll out in the final quarter of this year.

The CEO of Strata Choice and a former managing director at Credit Suisse, has joined the non-bank lender as non-executive director.

Volt Bank has handed back more than 5,000 customer deposits following its exit of the banking industry.

The non-bank lender has priced its fifth residential mortgage-backed security transaction for the year, bringing 2022’s total sum to $3 billion.