A survey shows 45% of Aussie home owners have never refinanced their mortgage... ANZ to cut about 200 jobs in Australia as loan growth slows...
Almost half of Aussie home owners have never refinanced
The results of a new consumer survey conducted by Aussie Home Loans has shown almost half of Australian home owners have never refinanced their mortgage.
The survey of more than 1,000 mortgage holders showed 45% have never refinanced their home loan. Almost one third (29%) of respondents said they have never refinanced because they think they won’t get a better deal. Almost one in five (18%) said haven’t thought about it or don’t know where to start and 17% believe it’s too time consuming.
Of the 53% of respondents who have refinanced, it happened, on average, more than two and a half years ago.
Aussie CEO James Symond, said he isn’t surprised by the fact many mortgage holders have stayed away from refinancing, with many likely unsure of how the process works.
“It’s not surprising that home owners don’t know where to start and think refinancing is time consuming, but that’s where a mortgage broker can help.
“Aussie brokers are now doing more refinance home loans than any other type of home loan, and that’s because our customers want an expert who’s on their side to get it done for them.”
ANZ to cut about 200 jobs in Australia as loan growth slows
(Bloomberg) -- Australia & New Zealand Banking Group Ltd. is getting rid of about 200 jobs in its Australian unit as lending growth slows in a subdued economy.
The reductions will be largely in Melbourne and affect managerial and back-office roles in areas such as marketing and project management, Melbourne-based spokesman Stephen Ries said in an e-mail Tuesday.
ANZ’s job cuts highlight the challenges ahead for Australian banks after three of the four largest lenders this month announced net income that missed analyst estimates amid rising corporate loan defaults. ANZ is also slashing its Asian and institutional-banking workforce as part of a move to exit low-returning assets.
“Australian lenders are under pressure to have the right asset mix as capital requirements increase, and in that general push they are trying to ensure they have the right cost base,” said Rohan Walsh, an investment manager at Melbourne-based Karara Capital Ltd., which manages about $1.8 billion. “ANZ, in particular, is already shrinking its Asian operation to boost returns and one would think ongoing cost controls would be the focus of the management team.”
The results of a new consumer survey conducted by Aussie Home Loans has shown almost half of Australian home owners have never refinanced their mortgage.
The survey of more than 1,000 mortgage holders showed 45% have never refinanced their home loan. Almost one third (29%) of respondents said they have never refinanced because they think they won’t get a better deal. Almost one in five (18%) said haven’t thought about it or don’t know where to start and 17% believe it’s too time consuming.
Of the 53% of respondents who have refinanced, it happened, on average, more than two and a half years ago.
Aussie CEO James Symond, said he isn’t surprised by the fact many mortgage holders have stayed away from refinancing, with many likely unsure of how the process works.
“It’s not surprising that home owners don’t know where to start and think refinancing is time consuming, but that’s where a mortgage broker can help.
“Aussie brokers are now doing more refinance home loans than any other type of home loan, and that’s because our customers want an expert who’s on their side to get it done for them.”
ANZ to cut about 200 jobs in Australia as loan growth slows
(Bloomberg) -- Australia & New Zealand Banking Group Ltd. is getting rid of about 200 jobs in its Australian unit as lending growth slows in a subdued economy.
The reductions will be largely in Melbourne and affect managerial and back-office roles in areas such as marketing and project management, Melbourne-based spokesman Stephen Ries said in an e-mail Tuesday.
ANZ’s job cuts highlight the challenges ahead for Australian banks after three of the four largest lenders this month announced net income that missed analyst estimates amid rising corporate loan defaults. ANZ is also slashing its Asian and institutional-banking workforce as part of a move to exit low-returning assets.
“Australian lenders are under pressure to have the right asset mix as capital requirements increase, and in that general push they are trying to ensure they have the right cost base,” said Rohan Walsh, an investment manager at Melbourne-based Karara Capital Ltd., which manages about $1.8 billion. “ANZ, in particular, is already shrinking its Asian operation to boost returns and one would think ongoing cost controls would be the focus of the management team.”
