Non-banks in funds fight for bigger slice of mortgage market (The Australian)

Non-banks are stepping up efforts to get more access to cheaper funding by taking their push to Treasury, with the aim of better competing against the big banks on mortgage pricing.

During the COVID-19 turmoil the banks have had access to the Reserve Bank’s $200bn term funding facility, which smaller lenders say is tipping the scales too much in favour of the larger incumbents.

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COVID-19: How the Australian new car market is coping (Performance Drive)

Firstmac Limited, Australia’s largest non-bank lender (and new owners of Georgie/PerformanceDrive), said that it took in 1051 car loan applications in May, which was a record for the company and its core Firstmac and loans.com.au brands. This was up considerably on 721 applications in March and 657 in April.

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