Yellow Brick Road - Mark Bouris (backed by Macquarie Bank)

[JohnHenry]

Hi,

After reading the news in SMH website (http://www.smh.com.au/business/bank...deal-to-take-on-big-banks-20121107-28y4h.html) and also in the BRW magazine, I wonder if this is a good deal that sounds too good to be true.

For the first year when you join with them, they offer 1.15% discount then dropped back to 0.86% permanently thereafter.

Hopefully when they are in the business as the fifth players, they can give better rates than the existing big four.

 

[Rolf Latham]

Hi,

After reading the news in SMH website (http://www.smh.com.au/business/bank...deal-to-take-on-big-banks-20121107-28y4h.html) and also in the BRW magazine, I wonder if this is a good deal that sounds too good to be true.

For the first year when you join with them, they offer 1.15% discount then dropped back to 0.86% permanently thereafter.

Hopefully when they are in the business as the fifth players, they can give better rates than the existing big four.

Been discussed just over the last week

if they get into the top 10 by volume in the next 18 mths I will be surprised.

Why yellow label MAcq white label product

ta

rolf

 

[buzzlightyear]

Anything that adds to competition is a good thing for consumers. This article only says what we already know.

 

[buzzlightyear]

Been discussed just over the last week

if they get into the top 10 by volume in the next 18 mths I will be surprised.

Why yellow label MAcq white label product

ta

rolf

IMO branding......YBR will be the "small" player taking on the big banks. Dare I say the little Aussie battler.

The hangover of the image of the "millions factory"of the pre GFC days around Macq i think still lingers today and wouldn't give it the same cut through and connection to their target market.

 

[Peter_Tersteeg]

Does anyone here remember Wizard Home Loans?

 

[JohnHenry]

Does anyone here remember Wizard Home Loans?

Hm.... not that I can think off now :-/
what about it ?

I suppose if the lender goes to default, does that means we as the borrower suddenly relieved from our mortgage or it could be worse, our asset will be taken by the institution's buyer ?

 

[Rolf Latham]

Hm.... not that I can think off now :-/
what about it ?

I suppose if the lender goes to default, does that means we as the borrower suddenly relieved

You could be relieved..............but not of your mortgage.
ta
rolf

 

[Peter_Tersteeg]

Wizard was owned by the same management team. When it reached a critical mass of customers and branches they were sold to another lender. Rates went up, terms and conditions got nasty, and a lot of borrowers got into a lot of financial stress.

 

[The Fence]

Ha haaa haa ROTFLMAO....!!

 

[Player]

This is what he will also do with YBR (with or without the suite of add-ons such as financial planning and so on). Rinse and repeat.

He is a very clever man. Always appealing to the Aussie Battler (as the space ranger has alluded to above) and purveying the story of affordable "home" loans for average Aussies. His personal branding is to appeal to the majority.

I have heard him speak and he takes the complex and makes it simple. By his own admission he does not have the funding to take on the majors at the marketing game especially on tv........enter Ch 9 who I think has around a 20% stake in YBR for the media advertising exposure. Ergo Celebrity Apprentice and the exposure he received as the face of YBR there also.

I am unfamiliar with their offerings so cannot offer any opinion on what the MB's have covered already. As a success story..........good on him for creating something from nothing.

 

[The Fence]

I have heard him speak and he takes the complex and makes it simple. By his own admission he does not have the funding to take on the majors at the marketing game especially on tv........enter Ch 9 who I think has around a 20% stake in YBR for the media advertising exposure. Ergo Celebrity Apprentice and the exposure he received as the face of YBR there also.

Not to mention Christopher Joye backing also...

 

[Rolf Latham]

Wizard was owned by the same management team. When it reached a critical mass of customers and branches they were sold to another lender. Rates went up, terms and conditions got nasty, and a lot of borrowers got into a lot of financial stress.

GE I recall, who themselves are no longer around

ta
rolf

 

[Aaron_C]

This is no special deal. It is just one of Macquarie's standard white label products with Mark Bouris' marketing and branding. No different to any other mortgage manager, both in past or present (think Ironbark, GE Money, Old-no-doc-Macquarie). Hardly revolutionary, no matter what Channel Nine tries to spin it as.

 

[TomW]

How the mighty have fallen. Macquarie is reduced to spruiking home loans to bogans.

 

[Spectre]

This was also discussed by brokers here http://www.theadviser.com.au/search?searchword=YBR&ordering=&searchphrase=all

see 2nd link

 

[DaveM]

GE I recall, who themselves are no longer around

ta
rolf

Yep, I was with Wizard who were a good mob to deal with, then they were sold to GE Money. Rates went up when the RBA raised them and did not go down when the RBA dropped rates during the GFC. I remember being at 8%+ variable with them when other lenders were dropping rates like crazy.

GE then decided to sell its mortgage roll to Aussie/CBA but retained some loans, including mine. I got out after that as I was planning to sell anyway, I was less than 2 years into my new business and unable to refinance in the GFC aftermath.