Comments on: Swan reiterates call for unhappy customers to switch banks

By: Hot Topics - See what’s got our readers talking | Lending Central

Hot Topics - See what’s got our readers talking | Lending Central — Mon, 21 Jul 2008 04:27:37 +0000

[...] Swan reiterates call for unhappy borrowers to switch banks Total comments - 3 Not everyone thinks in the same way as the Federal Treasurer does! So far, you all think that it’s not so easy to switch lenders on a whim. Disagree? Then speak out in defense of Mr Swan. [...]

By: Doc

Doc — Fri, 18 Jul 2008 08:13:57 +0000

Can anyone tell me what “government’s bank-switching package, which would be in place by November” is all about I havent seen any details?

By: Peter

Peter — Fri, 18 Jul 2008 08:11:19 +0000

Wayne Swan , what an idiot, vote with your feet and change to another bank, does he go around with his eyes and ears closed to what is happening.The big banks are taking over and controlling the industry like they did 15 - 20 years ago and they now have a strangle hold in the industry, so changing banks only means only means just that , they all charge the same high rates which are out of kilter with the funds available, sure there has been sub prime difficulties but these banks are just making obscene amounts from the home owners. Mr Swan you need to be more active in analysing the banks and how they are ripping off the public. Forget the froth and bubble rubbish you embelish get real and do something.

By: Jotoma

Jotoma — Fri, 18 Jul 2008 05:23:52 +0000

So true! I am sick of hearing the government say switch. It’s not that easy. And for some people who’s financial situation may have changed, taken on more credit card debt etc, there’s no guarantee of a new approval.

By: ted

ted — Fri, 18 Jul 2008 05:21:49 +0000

This fellow must be brain dead - or has no concept of finance. All lenders charge a discharge fee when their loan is repaid and this cost can be up to $1,000 or more! In addition, the good old state governments all charge registration fees for registering the release of the old mortgage, and the lodgement of the new mortgage. Does Swan think the state governments are going to forego this income?