Market leading non-bank financial services group, Aussie, has launched an exciting promise to customers that if they are not impressed by an Aussie broker’s service they will be paid $100.

The “Aussie Promise to Impress” builds on Aussie’s reputation for offering customers highly personalised mortgage broking service which translates into a better deal by meeting their needs.

Aussie’s founder and executive chairman Mr John Symond said the Aussie Promise was targeted at customers who are interested in using a broker or bank customers looking for a reason to switch in order to get a more personalised service for their home loan needs.
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By Jill Fraser for Lending Central

Only a handful of interviews have been conducted with Stephen Porges since he took over the reigns at Aussie in August 2008.

“I normally leave those gigs to John,” he chuckles.

The former scientist told Lending Central that the stark differences between him and Executive Chairman, John Symond is what makes for successful collaboration.

LC: What underpins your effective relationship with John?

SP: Communication. Our skills are complementary. Besides being incredibly informed financially John is a wonderful reader of the population; whereas I am a very pragmatic, starter driven global financial person.

LC: When you say that John can read the population are you talking only financially?
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Leading mortgage broker and non-bank lender Aussie Home Loans has called on the central bank to leave official interests rates on hold at its board meeting next week.

Many financial market economists believe the Reserve Bank of Australia (RBA) is likely to lift the cash rate by 25 basis points to 3.75 per cent on Tuesday, December 1.

But Aussie executive chairman John Symond said credit is in short supply and a further rate hike now may hurt lending and consumer confidence, despite signs that the overall economy is emerging from the global downturn.

“We are heading into the crucial Christmas retail season and a rate hike will hurt sales and create further concerns for households,” he said in a statement on Thursday.
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Personal loans can be a smarter choice for getting out of the debt trap as common alternatives such as credit cards or topping up the mortgage may be more expensive, taking years longer to pay off.

Aussie has introduced a brand new tool for consumers to quickly analyse and compare the total interest cost of various finance types to a personal loan, called the Debt Comparison Calculator.

Aussie founder and executive chairman John Symond said “We have developed the personal loan calculator to help consumers understand what the impact could be of taking on debt but then not paying it off as quickly as possible.”

Mr Symond said, “We want to assist consumers to make informed decisions about what form of debt they take on when buying a car or other “bigger ticket” purchases.
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Chairman of Aussie Home Loans, Mr John Symond, today called for borrowers to look for a better loan deal for themselves following the Reserve Bank’s decision to lift official interest rates by 0.25 per cent to 3.25 per cent.

Mr Symond suggested home owners and credit card holders should investigate their own financial situation and seek to offset the hike in the interest rates, which will hit their mortgages and other loans.

He said, “Our research shows that more than 50 per cent of customers who speak to an Aussie adviser do not have the best home loan deal. The rate rise should prompt all borrowers to find a better deal, which could negate the latest rise altogether”.
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The Mortgage and Finance Association of Australia (MFAA) has welcomed the move by the country’s leading mortgage broker Aussie to come on board as the Principal Sponsor for the Women in Mortgage Business Network (WIMBN).

“The Women in Mortgage Business Network provides significant opportunities for professional development,” Aussie Executive Director Mr James Symond said.

“Aussie is proud to be associated with this important initiative as we believe women are a powerful and successful force within the mortgage broking industry.”

WIMBN holds social and educational seminars across five cities each quarter. Topics range from marketing workshops for business owners, to panels featuring inspiring women.
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It started as a way of showing their proud families back in Serbia and around Australia their successful mortgage broking business, located on Sydney’s northern beaches.

But for Serge Scekic and Jim Sharif, their “Fans of Aussie Dee Why” Facebook site has become a business tool with their very first home loan being sold via the social networking site.

Serge Scekic said the customer sent a “friend request” to him and then emailed asking about Aussie Dee Why’s service.

“He said he was a First Home Buyer and was interested in getting pre?approval for a loan,” Serge said.
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Aussie Home Loans, is posting record lending levels following the recent acquisition of Wizard Home Loans from GE Money.

The mortgage broker has doubled its monthly lending volumes to more than $2 billion following the addition of Wizard franchisees to Aussie’s distribution network, which now covers over 140 outlets in city and regional areas.

All of the 111 Wizard outlets are being transformed to the Aussie brand and they are now part of an organisation which is bucking the gloom of the recession with an aggressive expansion strategy.
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The ACCC has allowed Wizard home loans to waive the deferred administration fee for those transferring to Aussie, but not to other home loan providers.  You can read the full press release from the ACCC below:

AMS Mortgage Services Pty Ltd proposes to waive the deferred administration fee for early termination of Wizard branded home loans where a customer chooses to refinance with Aussie Home Loans.

The Australian Competition and Consumer Commission will permit this arrangement which involves third line forcing, after a notification was lodged by AMS.

Third line forcing is a type of exclusive dealing conduct prohibited by the Trade Practices Act 1974. It involves the supply of goods or services on condition that the purchaser acquires goods or services from a particular third party. By lodging a notification with the ACCC, businesses may obtain protection from legal proceedings under the Act. Provided the ACCC does not object, protection commences 14 days after lodgment.
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By Jill Fraser for Lending Central

Not only does Aussie Home Loans’ executive chairman, John Symond believe that banks are justified in passing on less than half (or in NAB’s case zilch) of the Reserve Bank’s official rate cut, he challenges the RBA’s decision to reduce the cash rate to a five-decade low of 3%.

Symond spoke to Lending Central earlier today.

LC: What is your response to the banks passing on such a paltry percentage of the RBA rate cut? Can it be rationalised?

JS: The answer is yes..
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Aussie Home Loans, has cut its ongoing interest rate on the Aussie MasterCard by 0.25% p.a from 11.74% p.a. to 11.49%, p.a. following today’s decision by the Reserve Bank to drop the cash rate.

Chairman of Aussie, Mr John Symond, said “We have cut our card rate to provide all credit card holders with the chance to reduce their debt levels.

“It is time cardholders took a serious look at the rates they are paying on competing cards, as they are wasting thousands of dollars by sticking with high rate credit and store cards, instead of consolidating their debts into a low rate credit card.
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Leading direct lender MyRate.com.au is fighting for the rights of Australians borrowers against a stifling deal struck between GE Capital and Aussie Home Loans.

GE Money Home Lending Australia, which is exiting the mortgage market, said it would waive the deferred administration fee - the exit fee - only for those home loan borrowers wishing to refinance their home loans though Aussie.

In a complaint lodged to the ACCC Thursday morning, MyRate.com.au Managing Director Kevin Sherman disputed the arrangement, arguing that by keeping its interest rates high, GE Money are effectively encouraging their borrowers to refinance elsewhere however they are limiting customer choice and stifling healthy market competition.
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Aussie Home Loans announced today that it would takeover Wizard Home Loans’ sponsorship of the NSW State of Origin Rugby League Team for the next two years.

The move to boost the team follows Aussie’s acquisition of Wizard Home Loans, finalised last week.

The will continue to sport the Wizard Brand on its jersey for much of 2009 to ensure that fans who have bought merchandise will not be disadvantaged by the change in the naming rights sponsor.
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Aussie Home Loans, has teamed up with the country’s leading developer of urban communities Delfin Lend Lease, to streamline the home buying process.

The collaboration brings together two of Australia’s best known brands. Aussie mortgage brokers are being deployed to Delfin Lend Lease’s Sales and Information Centres across Australia this month.

David Keir, CEO Delfin Lend Lease, said “when we sat down to explore the opportunity with Aussie, the synergies between the two businesses were obvious. We are excited to have the Aussie brand associated with Delfin at our communities.”
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Wizard franchisees now have the chance to help their customers escape high priced home loans and offer them a range of new financial products following Aussie’s acquisition of Wizard from GE Money, which settled today (February 27, 2009).

Aussie is offering Wizard franchisees to retain their trail commissions and provide their customers with the opportunity to transfer to a better home loan without the cost of high contract break fees.

Chief Executive of Aussie, Mr Stephen Porges, said “Aussie is also delighted to be able to offer Wizard franchisees the chance to join a leading brand with a suite of market leading financial products, while retaining their commissions and offering their customers the chance of avoiding high break costs.
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