Lender

The NSW government has announced that it will guarantee up to $750 million in commercial loans to help universities recover from the impact of the coronavirus pandemic.

One in three mortgage deferral customers have opted to recommence paying down their debt ahead of the expiry of their repayment holidays, ANZ has revealed.

The Federal Court has charged the major bank for breaching its legal obligations after it overcharged fees and interest on loans over a 10-year period.

The property group has rolled out a new platform aimed at providing prospective home buyers with market research and analysis to inform their purchasing decisions.

Westpac is offering New Zealand customers an interest-free loan of NZ$10,000 to install energy-saving improvements such as double glazing or insulation to their homes.

The major has conceded that its AML/CTF compliance failures were partly due to “deficient financial crime processes, compounded by poor individual judgements”.

Credit provider MoneyMe has announced the launch of a “buy now, pay later” service for landlords to cover maintenance, repairs and marketing costs.

The major bank has announced its intention to sell its New Zealand-based asset finance business, UDC Finance, for NZ$762 million ($706 million) to Japan’s Shinsei Bank.

Westpac was the only big four bank to kick off the June quarter with a contraction in its mortgage book, according to the latest APRA data. 

The non-major has set aside additional capital to absorb expected losses from the COVID-19 crisis.