12 April 2009
Big banks putting first homebuyers at default risk
14/04/09 16:48
Major banks are allowing first homebuyers to sign up for mortgages so big they are left paying more than half their net monthly income on loan repayments.
A survey carried out by The Weekend Australian found that the top four banks will lend up to $465,000 to a first time buyer earning a salary of $70,000 a year. Click here to read more...
A survey carried out by The Weekend Australian found that the top four banks will lend up to $465,000 to a first time buyer earning a salary of $70,000 a year. Click here to read more...
Future bank mergers unlikely - ACCC
14/04/09 16:48
Going forward the majors will have a tough time getting mergers and acquisitions across the line, according to the chairman of the ACCC.
Following the majors' refusal to pass on the latest RBA rate cuts in full, the chairman of the Australian Competition and Consumer Commission (ACCC) Graeme Samuel, expressed concern at the state of competition in the banking sector.
"The risk is with four big banks, because of the diminished role of non-bank financial institutions, we end up with less than intense workable competition," he told the Australian Financial Review. Click here to read more...
Following the majors' refusal to pass on the latest RBA rate cuts in full, the chairman of the Australian Competition and Consumer Commission (ACCC) Graeme Samuel, expressed concern at the state of competition in the banking sector.
"The risk is with four big banks, because of the diminished role of non-bank financial institutions, we end up with less than intense workable competition," he told the Australian Financial Review. Click here to read more...