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Bank Loan Wars: NAB launches new online home loans

HomeMate — Tue, 22 Feb 2011 23:33:08 +0000

This home loan product [Uhomeloan] is aimed directly at it main two Competitors, Westpac and CBA, because it is a mortgage refinancing only product. Another giveaway is that the new home loans attract no fees on the standard variable loan.

Home Loan Exit Fees: Will mortgage “exit fee” ban undo homebuyers

HomeMate — Tue, 22 Feb 2011 03:37:41 +0000

Mortgage exit fees are the name given to deferred establishment fees, these fees are to offset bank costs for setting up the loan in the first place. They have a long standing history of being charged, even though one would reason that this was the purpose of charging interest rates [to cover the cost of such work.] By deferring the establishment fees, and letting them disappear after the loan was 5 years old, or even less, it had three effects.

If you want to be happy with your mortgage loan, sack your ‘Big Four’ banks

HomeMate — Sun, 11 Oct 2009 03:20:46 +0000

Some things in mortgage lending never change. In an ongoing saga the Big Four banks have again been belted in a customer satisfaction survey that puts them well behind credit unions and building societies.

Banks : CBA moves to counter NAB home loan switch campaign

HomeMate — Sun, 20 Feb 2011 23:24:57 +0000

You might have heard that Commonwealth Bank plans to attack NAB's crown jewels, its business loans portfolio. This is the National Bank of Australia's [NAB] area of strength. The Commonwealth Bank of Australia [CBA or Commbank] says it believes it's found a chink in NAB's armour: it's customer service ratings. Apparently the NAB is the lowest ranked for customer service out of the big four banks in Australia.

New Home Loan Price War

HomeMate — Fri, 11 Feb 2011 23:54:34 +0000

Yes, Nab has had the best rates for a while now, and that has not given them the traction they were looking for, so they have added the "no exist fees" and "we'll pay your banks exit fees if you switch your home loan to us" to the marketing mix, in an attempt to shake up the market, and change the centre of gravity.