Lender

The major bank has appointed the former managing director and CEO of BlueScope Steel to its board of directors.

Prime Minister Scott Morrison has welcomed the major bank’s decision to keep its variable home loan rates on hold in order to “rebuild the trust” of its customers.

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

Home loans submitted to major banks contain a higher number of reported misstatements than mortgages lodged to smaller lenders, according to the latest UBS research.

Two more majors have announced that they will increase interest rates on their owner-occupier and investment home loan offerings, following Westpac’s 14 basis point hike last week.

A regional bank has appointed Telstra’s executive director, strategy and business, to its board.

Online retailer Kogan.com recently revealed that it has joined forces with two lenders to support its entry into the mortgage market.

The combination of rising mortgage rates and falling property prices is “unusual” but is “unlikely” to impact the outlook for household consumption, according to one ANZ economist.

Westpac has announced rate increases to all of its variable home loan offerings, making it the first big four bank to adjust pricing amid rising funding costs.

Virgin Money is the latest lender to raise its interest rates for owner-occupier home loans.