Lender

Greater Bank has revealed that 75 per cent of its customers are now more than one month in advance on repayments.

The former head of ME Bank’s mortgage lending division has joined the mutual bank in a newly created role.

The competition watchdog is set to make good on its recommendations for improving the mortgage process, and will also be announcing enforcement outcomes in the coming months.

The major bank has announced cuts to fixed home loan rates of up to 55 bps, while forecasting house price growth of around 10 per cent this year.

Lending fintech Symple Loans has closed a $15-million Series D funding round that aims to “accelerate its profitable growth strategy” and be used for “targeted investments”.

Business credit demand has shown signs of recovery (driven by asset finance) as extended restrictions were lifted in Victoria, new research has shown.

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

A Queensland-based lender is to acquire the super fund-owned lender ME Bank, as the two banks look to challenge the dominance of the big four.

Senate hearings into the repeal of responsible lending laws began on Friday, with concerns raised over the ramifications of removing ASIC’s oversight.

The Tasmanian lender has reported growth in applications and settlements in the six months to December 2020, reflecting a continuing market trend.