Lender

The major bank has named the former head of channels at Barclays Group as the new chief executive of its New Zealand division.

The Australian Office of Financial Management will allocate $30 million to the small-business lender under the government’s securitisation fund.

The proposed acquisition of Westpac PNG and Westpac Fiji by Kina will no longer proceed, it has been confirmed.

A new chief technology officer is set to join direct-to-consumer lender Tic:Toc as it ramps up capacity to meet “the surge in demand for digital lending”.

The major bank has confirmed that its new digital home loan product, Unloan, will be “focused on digital direct distribution to start with”.

The big four boss has voiced some scepticism around newer players in lending and how they present their products.

The mutual lender’s book has grown to over $8 billion, following strong growth in the final quarter of the financial year 2021, partly attributed to the broker channel.

The Mortgage Business Uncut podcast is your weekly analysis of the biggest themes shaping the Australian mortgages market.

Reverse mortgage lenders have accessed a small fraction of the potential retiree housing market in Australia, according to Deloitte.

Pepper Money has priced its second I-Prime deal for the year, upsizing the figure to $850 million.