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NAB to take additional $1.18bn remediation hit

  The major bank has revealed that it will absorb a further $1.18 billion in remediation costs.

mortgagebusiness
ANZ, Westpac drop variable mortgage rates

The major banks have repriced their variable home loan products in response to the Reserve Bank’s latest cut to the cash rate.

ANZ, Westpac drop variable mortgage rates
Lenders begin to pass on RBA cut

The market has responded to the Reserve Bank’s latest cut to the cash rate, with lenders passing on savings to mortgage customers.

Lenders begin to pass on RBA cut
Government commitment to stamp duty ‘baffling’

State governments have been urged to scrap stamp duty in light of new research, which has highlighted its impact on housing affordability.

Government commitment to stamp duty ‘baffling’
NAB scraps fees in ‘clean-up program’

National Australia Bank has announced that it is removing more than 100 fees from across its products and services, as part of a “fee clean-up program”.

NAB
Treasurer calls for ‘common sense’ in lending space

Commonwealth Treasurer Josh Frydenberg has stressed the need for home lending practices that don’t curb the “aspirations of hard-working families” by further limiting access to credit

Josh Frydenberg
NAB supplies fintech with $57m loan facility

A fintech lender has secured a $57-million warehouse facility from NAB, as part of the major bank’s commitment to supplementing the growth of “high-potential” start-ups.

NAB
Majors to hold off on further changes to serviceability rates

ANZ, the Commonwealth Bank and NAB have revealed that they have no immediate plans to lower their serviceability rates further, despite Westpac’s decision to revise its interest rate floor ...

NAB CBA Westpac ANZ
DTI lending caps touted as future credit curbs

Regulators could move to set caps on loan volumes for borrowers with high debt-to-income ratios if the housing market recovery continues to accelerate, according to analysts.

Cameron Kusher
ASIC defends lending remit amid legal ‘uncertainty’

ASIC has defended the utility of its responsible lending guidance amid court rulings that have called into question current compliance practices. 

Tim Gough
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