Lender

The chief executive and executive director of Westpac Life is set to become the new CEO of Heartland Bank.

Wages growth has slightly lifted, up to its highest annual rate since 2018, with all eyes now shifting to watch for what the Reserve Bank does next.

The bank has announced it is partnering with Nano to utilise its tech to offer a digital mortgage for retail customers in Q3.

The major bank has launched its digital home loan division, Unloan, which is a product that has a progressive interest rate discount.

Two ex-big four executives have teamed up to launch a new non-bank lender, targeting older Australians who want to help their children enter the property market.

The non-bank lender has priced its first Australian RMBS transaction for the year, said to be the largest-ever capital markets issuance to date.

Home and business lending carried the Commonwealth Bank’s third-quarter cash profits of $2.4 billion.

A bridging loan specialist expects to see borrowers shopping around as the cash rate rises, with non-banks tipped to benefit.

Owner-occupiers carried Westpac's mortgage book growth over the six months to March, while the investor segment continued to fall. 

The big four’s squeezed margins could benefit from a rising cash rate, but analysts have tipped it will be countered by fierce competition and increased impairments.