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Refinance Loans

Posted on 13. Nov, 2009 by admin.

In the current tough economic times, there are a number of options people are looking at to manage their credit more effectively and to get their finances under control. One option people often look at is using the equity in their home to pay debts, such as credit cards, the car loan or other loans. [...]

Competition Regulator Decision On AXA Takeover Imminent

The Australian completion regulator says it will make public its final decision over whether NAB will be given approval to acquire AXA Asia Pacific Holdings (APH) on Thursday. It remains to be seen whether NAB has done enough in the long running takeover saga to satisfy the concerns of the Australian Competition and Consumer Commission (ACCC), and finally be given approval to go ahead with the merger valued at $13.3 billion.

Australian Banks Need To Raise Rates Out Of Synch With Central Bank

A leading investment bank says that Australian lenders should raise their mortgage lending rate before the year is out, and need to do so independently of the interest rate cycle of the central bank. This would soften the impact of rising funding costs, according to UBS analysts. Australian lenders consistently cite the higher cost of funding on wholesale credit markets, as hurting their profitability.

Weakness In Australian Home Lending Sector Continues

The Australian home loan sector continues to remain weak, enabling the Reserve Bank of Australia to maintain interest rates steady leading economists say. According to the Australian Bureau of Statistics Australian housing finance commitments for owner-occupied housing rose 1.7 per cent in July. The marginal increase in lending failed to impress Savanth Sebastian, an economist for CommSec, who said the rise compared to the over all decline in mortgage lending during 2010 was "effectively a drop in the ocean",

Westpac Announces New Bank SA Chief

Gail Kelly, chief executive of Australian banking major Westpac, has appointed a veteran of the lender Jane Kittel, as the new chief of its South Australian unit Bank SA.Ms. Kittel has worked at Westpac for 15 years, and served most recently as the general manager of Westpacâs Pacific banking operations. Kittel will be taking over the role at Bank SA from Rob Chapman, who himself was elevated to the position of chief executive of another Westpac unit St. George. Mrs. Kelly lauded Ms. Kittel as one of the lenders most experience executives, who successfully steered Wetspacâs Pacific region though a volatile last few years.

Fund Manager Urges Merger of Bendigo And BoQ

A fund manager with holdings in both Bank of Queensland, and Bendigo & Adelaide Bank has backed a proposed $5.5 billion merger plan between the two lenders, even going so far as to demand that a merger takes place. Geoff Wilson, chairman of fund manager Wilson Asset Management has said that the boards of both lenders should indeed consider the merger, which makes both strategic and legal sense.