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  1. #601
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    Quote Originally Posted by peat View Post
    'cept that Honda 125 allowed them to get a job in some slightly further away place which meant they could repay easily and pay tax on their earnings.
    Its their risk and by that I mean the bankers and the borrowers let them do it if they want to.

    Quite frankly that story I saw recently about the couple suing the bank because they loaned them money which subsequently became too much, just sickens me. They completed the loan application and if they said they only needed so much to live then the bank should be able to rely on that.
    I'm not saying bankers are perfect and in fact they tend to lend you an umbrella on a sunny day and want it back when it rains but it is private commerce!!
    Yes of course. It's astounding how banks have been vilified. It's pure political populism - and every investor across Australia and New Zealand should be wary. It might be banks today but the Eye of Sauron can turn on what you thought was a safe little investment at any moment. "Nice little investment in the [Oil and Gas sector; Retirement Industry; Electricity Sector; etc etc] you have there, shame if anything was to happen to it".

  2. #602
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    Quote Originally Posted by macduffy View Post
    I think you've answered the first point yourself, Bob. Perhaps people use mortgage brokers because they think the broker will get a better deal than they could obtain themselves. Or, just to save the hassle!

    Yes, I posted and then realized that!

  3. #603
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    I’ve never used a mortgage broker before, I find if you want the best rate you just need to get a pre-approval with at least two lenders. Then you just email for a bit, back and forth saying ‘bank x will offer this rate, can you beat it?’

  4. #604
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    Now, that really is a relief rally! ANZ up over 7%, WBC 8%. Even AMP scored +10%!

    Classic case of selling the rumour and buying the fact - or at least, buying back a bit of the damaged stock!


  5. #605
    Speedy Az winner69's Avatar
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    Quote Originally Posted by macduffy View Post
    Now, that really is a relief rally! ANZ up over 7%, WBC 8%. Even AMP scored +10%!

    Classic case of selling the rumour and buying the fact - or at least, buying back a bit of the damaged stock!

    ...and Heartland starting to follow suit ....seems their shareprice follows the sentiment
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  6. #606
    percy
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    Quote Originally Posted by winner69 View Post
    ...and Heartland starting to follow suit ....seems their shareprice follows the sentiment
    No surprises there.!
    Dairy prices up tonight.?...lol.

  7. #607
    Senior Member Marilyn Munroe's Avatar
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    Quote Originally Posted by winner69 View Post
    Will probably affect NZ in due course .....like getting credit will be tougher as responsible lending regime really kicks in
    I have no doubt if the banks are forced into a responsible lending regime they will punish us.

    Applying for a small loan will require filling in a multiple page questionnaire including a compulsory field which asks which brand of tooth paste you use and supplying your great grandfathers birth certificate.

    Boop boop de do
    Marilyn
    Diamonds are a girls best friend.

  8. #608
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    Well that was a good day. What next? Oh, just the possibility of bizarre and extreme Reserve Bank capital requirements and a declining Australian and New Zealand housing market.

    Still, I'll worry about that another day. Tonight I'll celebrate with a glass or two of Cleanskin Merlot from Countdown ($7 a bottle and tastes fine - it's medicinal and some lamb chops.
    Last edited by Bobdn; 05-02-2019 at 05:33 PM.

  9. #609
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    Martin North has read the Banking Royal Commission Special Report and summarises it here. He says profitability will be under pressure because estimated value of remediation could be $6-7bn.
    https://www.youtube.com/watch?v=sto_p6puBI8

  10. #610
    Speedy Az winner69's Avatar
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    NAB in trading halt .....head honcho getting the boot?

    Wonder how many zillions he will get for leaving ...got a family and elderly parents you know

    So morally corrupt these bankers betcha he'll hold out for heaps and not feel one pang of remorse
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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