I'd move my ASB home loan to Heartland if it was not locked in for 2 more years but really considering moving my saving from kiwibank to them. In the meantime maybe I should just keep accumulating HGH shares.
I honestly never thought I would see the day you could borrow money at 1.99% !
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
If nothing else, it's a neat bit of publicity for HGH to be the first to go sub 2%. They've tended to have relatively good TD rates until recently haven't they? I guess that's going to change, if it hasn't already.
“Digitalisation means a low cost of onboarding, which can be passed on to borrowers. It also means speed – an answer can be given in minutes, so customers don’t have to endure the lengthy processes of mainstream banks. Moreover, Heartland’s group structure provides it with broad funding flexibility,” said Heartland Group CEO Jeff Greenslade.
Gosh there are some lightweight comments at the end of that article, such as "A bit of a sham Heartland is..." probably because the Heartland offer doesn't necessarily conform to that posters specific (likely riskier) requirements.
“Digitalisation means a low cost of onboarding, which can be passed on to borrowers. It also means speed – an answer can be given in minutes, so customers don’t have to endure the lengthy processes of mainstream banks. Moreover, Heartland’s group structure provides it with broad funding flexibility,” said Heartland Group CEO Jeff Greenslade.
I wonder if this was somehow developed or driven off the back of the very efficient Harmony digital platform? If so and they truly have found significant cost savings because of it, it could really be quite successful for HGH and disruptive for the industry as a whole...anything to stem the flow of billions in profits to Oz banks has to be a good thing.
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Originally Posted by winner69
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