Quote Originally Posted by unhuman View Post
So some big changes coming then... I assume they are targeting their existing mortgage base for these new homeowner loans.

SM looking like a very conservative investment now. Max rate 8.5% with double protection being first the reserve fund and security on the homeowner loans.

Would I be right in assuming that most who take out the homeowner loans will consolidate into their mortgage, at which point SM looks very much like one year term deposits on slightly higher rates.

Personally this is too low risk / low return for me. One assumes they are targeting big sums held on term deposit.
Where are you getting 1 year term deposits any where near that high?