Lender

The credit union and bank have entered into merger discussions, looking to potentially form “one of Australia’s larger customer-owned banking organisations”.

Promoted by Capital Bridging Finance As talk of rate hikes intensifies, one lender is bucking the trend with a major rate cut.

The neobank has partnered with one of Australia’s largest mortgage aggregators to launch “the first BaaS-powered consumer products to go live in the Australian market”. 

Both owner-occupier and investment housing lending increased in September, reflecting strong borrower demand boosted by low rates, according to new data.

The major bank’s margins were squeezed by competitive pressures in the home loan landscape, as its book grew by 3 per cent in the 2021 financial year.

A mutual bank has revealed that it had completed the legal transfer to finalise a merger with a credit union.

The non-major bank saw its home loan portfolio grow 14 per cent to $76.4 billion in the six months ended September 2021, according to its half-year results.

Fewer borrowers are now requiring financial assistance to meet their loan repayments, according to the banking association.

The major bank has singled out improving its home loans growth after a shaky year as its primary concern, while hinting at a new digital offering.

Several banks have confirmed that they will be assessing new mortgages at the elevated serviceability buffers from today (29 October), ahead of the Monday (1 November) implementation date.