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Briefs: Mortgage Choice forecasts growth, Veda says credit demand rising, NAB's customer ratings sli

24 October 2013 5:42PM
Loan broker Mortgage Choice had a good September quarter, with loan approvals up 19 per cent and settlements up 15.6 per cent on the September quarter last year. Speaking at the company's annual general meeting yesterday, Mortgage Choice chief executive Michael Russell said he was expecting substantial improvement from the company's comparison website, HelpMeChoose.com.au, this financial year and significant revenue growth in the company's new financial planning division. Credit reporting company Veda has observed an increasing demand for consumer credit. Veda's latest quarterly consumer credit demand index shows overall demand rising by 7.4 per cent over the year to September, compared with a 5.4 per cent annual increase recorded in the June index. Mortgage inquiries were up 9.7 per cent, personal loan inquiries were up two per cent and credit card inquiries were up 13.7 per cent. Commonwealth Bank and Westpac lead the satisfaction ratings among the big four banks in both Roy Morgan surveys - business and consumer. NAB's ratings with consumers and business have been slipping this year, after as strong recovery over the past couple of years.

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