Same here.
"A spoonerism is an error in speech or deliberate play on words in which corresponding consonants, vowels, or morphemes are switched "
- en.wikipedia.org/wiki/Spoonerism
I'm just a little shocked how certain lenders are going the complete opposite of their niche lending. AMP's policy change took them to opposite spectrums of conservative lending and now Bankwest who allowed 95% + LMI have gone to 80%. It just seems odd it is such a gigantic change! Why not 90% which in itself would have been a huge adjustment.
With current housing prices I do believe Bankwest had their place but now, what benefit can they possibly offer except free ATM access at 7/11 with your savings offset account.
I'm just a little shocked how certain lenders are going the complete opposite of their niche lending. AMP's policy change took them to opposite spectrums of conservative lending and now Bankwest who allowed 95% + LMI have gone to 80%. It just seems odd it is such a gigantic change! Why not 90% which in itself would have been a huge adjustment.
With current housing prices I do believe Bankwest had their place but now, what benefit can they possibly offer except free ATM access at 7/11 with your savings offset account.
I think its because brokers put deals through to those lenders for those exact reasons.
As a result they become over-exposed to that type of lending.
Smaller lenders (relative to the Big4) will need to differentiate to capture market share, and hence have some policies to attract customers.
When APRA looks over their books and does a comparative analysis they see big problems - 'outliers'. Hence they make reasonably big shifts rather than small tinkering.
...At least thats what i think is going on behind the scenes. Can't speak for the Bankwest/AMP boardroom discussions.
Years ago there was a small building societ that allow very small units. After a short time that is all they got - applications from people buying small units.
Years ago there was a small building societ that allow very small units. After a short time that is all they got - applications from people buying small units.
That's what wesuck did with bank of Melbourne, bought the business, re branded, or closed all the bank of Melbourne shopfronts, amalgamated the culture.
Then a couple of years ago someone came up with the great idea of starting bank of Melbourne again. We now have Westpac and bank of Melbourne next door to each other in our local shops.
That's what wesuck did with bank of Melbourne, bought the business, re branded, or closed all the bank of Melbourne shopfronts, amalgamated the culture.
Then a couple of years ago someone came up with the great idea of starting bank of Melbourne again. We now have Westpac and bank of Melbourne next door to each other in our local shops.
Same here.
"A spoonerism is an error in speech or deliberate play on words in which corresponding consonants, vowels, or morphemes are switched "
- en.wikipedia.org/wiki/Spoonerism