Westpac

Big banks lose market share in tough home loan environment

The major bank’s market share of residential mortgages fell by nearly 100 basis points to 81.2% in 2019, as subdued lending conditions and more intense competition put the squeeze on.

By William Jolly ● November 08, 2019

Westpac relaxes lending restrictions for investors (again)

Westpac has launched another bid to kickstart its sluggish mortgage growth, loosening rules around its Household Expenditure Measure (HEM) for investment borrowers.

By Alex Brewster ● November 07, 2019

UBank, Westpac, Teachers Mutual & others chop home loan rates below 3%

It’s been a big year for home loan rate cuts, and with the RBA not expected to cut the cash rate again till next year, this week’s cuts by Westpac, UBank, St George, Bank of Melbourne and Teachers Mutual Bank could be among the last we see in 2019.

By Emma Duffy ● November 05, 2019

Beem It now allows instant transfers to multiple bank accounts

Bank-backed payments app Beem It has launched a new feature allowing users to instantly transfer money between several different bank accounts as well as set up scheduled payments.

By William Jolly ● October 22, 2019

Treasurer announces ACCC inquiry into mortgage prices

Treasurer Josh Frydenberg has today asked Australia’s competition watchdog to conduct an inquiry into the banking sector’s refusal to pass on recent interest rate cuts in full to its customers.

By William Jolly ● October 14, 2019

ANZ, CBA, NAB and more cut fixed rates post-cash rate change

While much of the focus has been on variable rates, there’s been plenty of cuts to fixed rates following the latest cash rate cut.

By William Jolly ● October 08, 2019

Consumer sentiment slips 1.7% in September: Westpac

The general consumer mood lapsed slightly into negative territory from August to September by 1.7%, due to continued pressure on family finances.

By William Jolly ● September 11, 2019

Westpac hacks home loan rates by up to 130 basis points

Westpac has today lowered various fixed & variable home loan interest rates by as much as 130 basis points.

By William Jolly ● September 09, 2019

ACCC says we’re paying too much for foreign currency services

A report by Australia’s consumer watchdog the ACCC into foreign currency conversion has found Australians are getting ripped off to the tune of millions of dollars, and the big four banks are partly to blame.

By William Jolly ● September 03, 2019

Westpac cuts max interest rate on Westpac Life savings account to 1.95%

Westpac has cut the interest rate on one of its premier savings account products by 15 basis points.

By William Jolly ● August 27, 2019

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