Tag: loan

As home loan applications drop, the big four banks face a growing challenge from Macquarie | ‘I…

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As home loan applications drop, the big four banks face a growing challenge from Macquarie

Over the past week, all four of Australia’s biggest banks have reported falls of between 12% to 20% in new home loan applications since the May federal budget.

After announcing it would keep interest rates on hold, the Reserve Bank confirmed demand for new home loans has “declined noticeably”.

For anyone currently in the market for a new or refinanced home loan, that’s good to know – because banks are now competing even harder to win customers.

Since the start of June, at least 31 smaller lenders – though not yet the biggest four – have begun offering slightly lower variable home loan rates for new customers.

‘I’d much prefer to be a non-bank than a bank’: Alternative lenders gain as the big four falter

As big banks brace for hits to their earnings following the federal budget, smaller rivals are seizing opportunities despite the rapidly-softening property market.

While a quarterly earnings update on Monday revealed new investor applications at Westpac had fallen 26%, Bluestone Home Loans has confirmed it had doubled loan originations to $9 billion running into the end of the financial year.

“Three years ago we did 2.4. Last year we did 4.5. This year $9 billion. So we’ve consistently doubled it over the last three years,” chief commercial officer Tony McCrae told a media briefing in Sydney this month.

“I’d much prefer to be a non-bank than a bank at the moment. I know the banks are probably feeling it more as a whole.”

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Australian Finance Group

As the major banks get wrongfooted by a softening property market, smaller rivals are seizing on opportunities.

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August 14, 2026
Expert warns student loan borrowers about this costly mistake | Student Loans Must Be Forgiven An…

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Student Loans Must Be Forgiven And Cannot Be Kicked Off SAVE Plan, Says Amended Lawsuit

Student loan borrowers have filed an amended lawsuit against the Education Department. They contend that qualifying SAVE plan borrowers should receive loan forgiveness or be transferred to the REPAYE plan, rather than being forced into other repayment options. This challenge arises as the department prepares to move millions of borrowers out of the SAVE plan starting in July, following a settlement that terminated both SAVE and its predecessor, REPAYE. The Education Department seeks to dismiss the lawsuit, arguing the termination is final and current law no longer authorizes these plans. Despite the legal battle, borrowers are advised to prepare for selecting new repayment plans, as the department's timeline for transitioning out of SAVE remains unchanged.

Department of Education announces discount for student loan borrowers

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June 27, 2026
Confidential NAB loan fraud investigation warns of ‘trusted insiders’ | NAB takes action on i…

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Confidential NAB loan fraud investigation warns of ‘trusted insiders’

An internal National Australia Bank investigation has revealed the operations of sophisticated mortgage fraud syndicates that include large real estate and investment advisory firms, accountants and brokers, some of whom have allegedly infiltrated the lending giant through trusted insiders.

The probe, which included incidents in June and October last year, found “an extensive network of sustained relationships with at least eight brokers”.

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Inside the NAB probe into an alleged mortgage fraud abyss

A decade ago, a court was warned about a torrent of fraudulent loan applications. Now the same names are turning up as suspicious lenders take a closer look.

Major banks have been increasingly concerned about a flood of suspect home loan applications. Michaela Pollock

“From humble door-knocks to $11 billion in transactions. From one man’s dream to a platform trusted by over 100,000 customers. A journey built on vision, resilience and lasting impact.” That’s how the flashy highlights reel from the Property Investors Alliance described the company.

It was late September and the Property Investors Alliance had gathered its most loyal customers to mark two decades in business. Justin Wang, the company’s founder, addressed an enthusiastic crowd. His presentation showed a web of just some of what the company did – from accounting, to rental assessments to entirely managing a property for its owner.

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June 27, 2026
Judo Bank tanks as loan losses reveal economy’s rapid decline | Aussie bank plunges in value as…

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Judo Bank tanks as loan losses reveal economy’s rapid decline

Once investors get past a 45 per cent share price drop, they’ll worry about how three loans in entirely different sectors and states could go bad all at once.

Slowing household credit growth is the biggest story in Australian banking.

The federal budget has hit investor loans, house prices are no longer soaring, auction clearance rates are soft, and competition among the banks for new loans and refinancing is reasonably strong. These factors could result in household credit growth halving, underpinning the $11 billion short-the-banks thesis.

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Aussie bank plunges in value as loans suddenly go bad: 'Very rapidly'

An Aussie bank has seen the valuation of its business on the Australian stock exchange nearly halve in a single trading day. Judo Bank's share price plunged on Thursday after revealing bad debts to the market.

The bank, which lends to small and medium businesses, said three loans had gone bad in recent weeks, stoking concerns about the state of the economy and sending jitters through investors. One of the loans was to a business that had suddenly entered voluntary administration which caught the bank off guard as the business "deteriorated very rapidly".

"Judo's cost of risk has been impacted primarily by specific provision increases for three exposures across different sectors that have recently emerged," the bank said in an update to the ASX.

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June 25, 2026