Consumer lending (543 items)

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Briefs: Westpac adjusts home loan rates, Firstmac's $4bn online loan book, New CEO for LIXI

Westpac customers with 'principal and interest' owner-occupier home loans will receive an eight basis points interest rate reduction from 30 June 2017, pushing the bank's annual standard variable rate down to 5.24 per cent. But both investors and owner-occupiers with a Westpac interest-only loan will be paying more. read more

Suncorp hikes variable rates in slowing mortgage market

These are "sobering times" in the banking sector, David Carter, chief executive officer, banking and wealth at Suncorp says."I suspect that credit growth is slowing," Carter told Banking Day last week.Variable interest rates on all new and existing investor home loans, will increase by 0.12 percentage points from early July, Suncorp announced on Friday.ANZ, on the other hand, dropped variable rates. read more

ASIC worries collections and lending won’t mix for marketplace lenders

The corporate watchdog has highlighted conflicts of interest in the marketplace lending industry that may need to be managed better.The Australian Securities and Investments Commission on Friday released the results of a select survey of the sector, revealing a market still in the early stages of development. ASIC's aggregate data on lending by the sector may look low, however.ASIC said it was interested in how the industry was handling a range of conflicts, highlighting an odd theme for a business sector that relies on lending money and getting it paid back, with interest. read more

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