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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12 Jun 2020

Firstmac reports car market is "recovering strongly" (Australian Broker)

New data from a non-bank lender has indicated the car market is “recovering strongly” after plummeting in April, with borrowers ready to begin buying cars again as the COVID-19 crisis has been largely contained within Australia.

In the month of May, Firstmac recorded a record number of car loan applications, with activity strengthening towards the second half of the month and continuing into June.

After taking just 721 car loan applications in March and 657 in April, Firstmac took 1,051 in May, setting a new monthly record.

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