19:24
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Competition between banks and other lenders for home loan customers
has returned to levels last seen before the global financial crisis.
In another of the deals currently available in the sector, market heavyweight Westpac this morning ramped-up its home lending offering with a $1000 cash bonus for new home loan customers that sign up by the end of the month. The cash offer comes on top of a discounted variable interest rate.
However, JPMorgan banking analyst Scott Manning said the widespread discounting across new loans is unlikely to last while conditions in offshore funding remain challenging.
The drive to grow market share in the face of subdued demand for loans was driving discounting across mortgages. Read More
In another of the deals currently available in the sector, market heavyweight Westpac this morning ramped-up its home lending offering with a $1000 cash bonus for new home loan customers that sign up by the end of the month. The cash offer comes on top of a discounted variable interest rate.
However, JPMorgan banking analyst Scott Manning said the widespread discounting across new loans is unlikely to last while conditions in offshore funding remain challenging.
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