News
It’s Not You It’s Me…Now Get Lost
It’s not you, It’s me…not a good break-up line right? Unless you’re George Costanza. What if I told you that it is now a strategy for some lenders. In fact it has been deployed many times but more flagrantly since the GFC.
Lies, Damned Lies and Interest Rates
This article is about the street interest rates that an increasing number of non-PAYG business owners and people without security pay. Most banks have equated these otherwise customers to financial lepers and thus excluded them from accessing their balance sheets. They are called non-conforming borrowers.
How’s Your Relationship?
Have you heard your bank talk of how relationships are important lately? Probably, what you need to do – as you would with any relationship – is measure that talk against reality. If your bank has cut its cost to income ratio dramatically in the past decade, their services have suffered.
Have You Been Rejected Lately
Before you get too excited, I mean rejected by your lender. You know, for a commercial loan, lease, investment loan, mortgage…any kind of debt.
Enough With the Bad News
We’ve heard a lot of bad news in recent years. Now the mining boom is over our economy is more normalised. Some of the slack has been taken up by the extraordinary boom in property prices – and so the cycle continues (as my favourite economist, Don Stammer, would say).
Why the Banks are Increasing Investment Housing Rates?
The banks have silently reacted to the threat of regulatory capital restrictions (imposed by the Government) by raising interest rates on investment loans.
How Many Lenders Do You Have?
Talking to various people over the past few months has led me to the conclusion that some people over complicate their financial matters. This is unnecessary. How many lenders do you have?
If Lenders Don’t Understand Their Clients’ Problems…
…How do they develop effective products? Many lenders have large product teams with the appropriate level of junior, middle and senior management.
What’s the Difference Between a Finance Broker and a Mortgage Broker
Firstly, a Finance Broker should be able to do everything that a mortgage broker can do. Same qualification requirements, same aggregator needs etc. However, it doesn’t necessarily work in reverse.
Is Your Bank Process Driven or Customer Driven?
Who cares? You should. All banks publicly declare to be customer focused and that their processes are designed to provide the customer with a better experience. They all mean what they say. They have to.