Lender

A big four bank has agreed to pay up to $30 million, without any admission of liability, to settle a class action relating to life insurance.

The financial services group has announced that it is selling its wealth business for $45 million as it moves to simplify its offering.

James Symond, the CEO of major brokerage brand Aussie, is to leave the business following the imminent merger of Aussie and Lendi.

The latest State of the States report has shown that Victoria leads the country for home loan commitments and construction work done.

The business lender has appointed two board members while also announcing the departure of another member.

Gateway Bank has today unveiled a Monthly Premium LMI offering to help those with low deposits access a mortgage sooner.

The lender has said its cash earnings will be reduced in 1H21 due to notable items, including write-down of goodwill related to lender’s mortgage insurance.

A newly listed non-bank lender has said that the fund will help grow its “instalments lending business”, including by expanding its BNPL platform.

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

The COVID-19 early release of super payment was mainly used by households to pay their mortgages or rent, according to new figures.