5th bank rumoured

[Aaron_C]

Policy is fleeting though. Just like how Bankwest's new 'policy' a few months ago was to stop lending, full stop, as they had too many loans.

 

[Mick C]

I watched the segment on TV where the couple were paying 8.4% interest for their loan. Enter YBR, saving the day.

Seriously, if you are paying 8.4% for your home loan in the current market then you must book yourself for a CT scan immediately.

I dont know there is something about Mark Bouris that i don't like..He comes across as a used car sales man or a dodgy REA> My opinion only.

Channel 9 has 15% ownership/shares in YBR...so im not surprised with last night's tv segment.

Also when they filmed that segment it was regards to the OLD YRB funding....not the new Macquarie bank funding line.

All YBR is doing is changing their funding partner, they have always used gateway credit union as their funding partner. So i can't see how they can be considered the 5th bank when they are still the middle man! repackaging the same loan under a different name....you really need your own funding line to dominate!

Their rate are competitive, but for howl long?? + when you compare their loans to Macquarie's current offer, your not saving much...

Macquarie Bank - no Docs fee
YBR- $375 for Doc fee.

Etc....

When you read all the fine print and all the fee's involved...YBR's C-Rate is higher then Macquaries....for the same loan!

YRR's Spin doctors wins again....shifting the numbers and fees around...


http://www.macquarie.com.au/mgl/au/personal/loans/home-loans/compare-our-home-loans

http://www.ybr.com.au/docs/YBR_empower_comparison_rate_schedule_20121102.pdf

Macquarie's comparison rate after all fee's - 5.74%
YBR comparison rate after all fee's -- 5.77% - 6.00%

Regards
Michael

 

[Marty McDonald]

I wish channel nine had a share in Mortgage Experts! He is a great marketer you have to give him that.

I actually have a YBR branch below my office. I think they will go pretty well (they havent really made much impact as yet though). I seriuosly doubt they will offer anything revolutionary but all power to them it would be good to have an industry shake up.

 

[tobe]

I cant see how they can do much shaking if these YBR/Mcbank loans can only be written thru the YBR brokers. Even if they doubled their market share I cant see any of the majors coming out to match them. If we see aussie do a similar deal with CBA, and advantedge etc, then momentum might start to shift the rest of the market.

Personally Id rather see a shift in credit rather than a shift in margin/ lower rates. Lower rates for low LVR safe clients means a smaller pool of property buyers, less demand, which means less house price growth.
Higher relative rates/margins with looser credit standards means more
potential buyers, and higher prices...