But you spend all your time here waffling on with incomprehensible nonsense, and the last time we pulled you up on it you posted a link to a Github repository that didn't contain any code, just a document with a few pages of your trademark waffle and some dodgy graphs.
In light of this, how on earth do you expect us to believe you could build a piece of financial technology that will even come close to threatening one of the four government-backed Goliaths?
I think that he's gloating about his foray into crowd funding or P2P lending, which is like taking a piss in the pacific.
Any expressed market opinion is my own and is not to be taken as financial advice
But you spend all your time here waffling on with incomprehensible nonsense, and the last time we pulled you up on it you posted a link to a Github repository that didn't contain any code, just a document with a few pages of your trademark waffle and some dodgy graphs.
In light of this, how on earth do you expect us to believe you could build a piece of financial technology that will even come close to threatening one of the four government-backed Goliaths?
Me posting to a Github repository? Can you show me? I think I've posted a link to Kaggle, which is not a software repository.
I don't need to build a financial software to compete with CBA and why would anyone think they could? Not that I think that CBA is a champion of risk management modelling when implicit guarantees safeguard their business. But if I lend to a suburbanite, even if I don't own the platform, yes, I am a competitor to their glorious business model, no matter how much you scoff.
Westpac are already uncompetitive, so this will make it worse for them. However their subsidiary St George is better priced and has better lending policies, so it will be interesting to see what St George do, maybe as a smaller bank they don't have the same capital requirements.
St George have recently reduced their rates, and they give discount of 1.3% and up to $2000 cash to refi a loan from another bank - $1500 for investors.
I guess the short answer is that I don't know, so many mixed messages.
I suspect we may see banks go back to charging IRs commensurate with the risk involved - as they should.
I suspect we may see banks go back to charging IRs commensurate with the risk involved - as they should.
Thanks for the info.
St George have emailed me earlier to say that they aren't putting rates up. a number of lenders offer better rates to low LVR borrowers. There are a few different lending models out there at the moment. Some of the non-bank lenders are offering 3.99% variable and look like going lower.
Any expressed market opinion is my own and is not to be taken as financial advice
St George have emailed me earlier to say that they aren't putting rates up. a number of lenders offer better rates to low LVR borrowers. There are a few different lending models out there at the moment. Some of the non-bank lenders are offering 3.99% variable and look like going lower.
That is a kick arse rate. I'm on slightly more; but have a small loan so they charge more.
As I said, I think banks are going to go old school soon...
St George have recently reduced their rates, and they give discount of 1.3% and up to $2000 cash to refi a loan from another bank - $1500 for investors.
So, what does that make St. George's variable rate on a ~$300K loan (with < 70% LVR), net of that 1.3% discount?
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