product is not a credible threat to mortgage brokers yet, analysts say, as the battle for borrowers gets off to a cold start.
“CBA’s pricing is reasonable but not compelling versus peers,” Mr Cai said, pointing out that interest rates on other digital mortgages were closer to 6 per cent. “The product features are somewhat restrictive,” he added. The digital home loan product is an effort to cut its reliance even further and is available only on CBA’s website. The bank has also increased the Hayne-era bonus limits, pushing its staff to originate more lending in-house and stay at the company rather than leaving to set up their own broker business.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Change banks’: CBA sparks fury over announcementCommonwealth Bank has sparked criticism after it announced it was reducing the daily maximum amount customers are allowed to deposit using their mobile phone number.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
CBA targets rivals as chase for business banking crown heats upWhile NAB is the big fish in business banking, Vacy-Lyle says CBA is also keen to cut Macquarie down to size, by sharpening its focus on the real estate market.
Source: theage - 🏆 8. / 77 Read more »
CBA targets rivals as chase for business banking crown heats upWhile NAB is the big fish in business banking, Vacy-Lyle says CBA is also keen to cut Macquarie down to size, by sharpening its focus on the real estate market.
Source: smh - 🏆 6. / 80 Read more »
CBA targets rivals as chase for business banking crown heats upWhile NAB is the big fish in business banking, Vacy-Lyle says CBA is also keen to cut Macquarie down to size, by sharpening its focus on the real estate market.
Source: brisbanetimes - 🏆 13. / 67 Read more »
Why CBA’s AI future needs more reimaginingA US trip left CBA chief executive Matt Comyn with questions to which he doesn’t have all the answers. It’s a common theme across the Australian business world.
Source: FinancialReview - 🏆 2. / 90 Read more »
CBA ASX: Commonwealth Bank has fighting words as it prepares to get one back at Macquarie by chasing $20b in real estate agents’ bank accountsCommonwealth Bank’s move to chase $20 billion in real estate agents’ bank accounts seems bitsy, until you realise who it is going after.
Source: FinancialReview - 🏆 2. / 90 Read more »