Laing+Simmons Corporation
Leanne Pilkington

BANKS - WHO ARE THEY KIDDING

By: Leanne Pilkington
May 07, 2012 10:54
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I am sure anyone with a mortgage is incredibly frustrated at the big banks consistently poort treatment of their customers.

Yes, we appreciate that the cost of funds has increased, but given the banks are still making record profits, doesnt that mean they have found other ways to recoup that money?

In fact the banks have increased their margin over RBA rates by 1.45% in recent years, meaning they are more than able to pass on the full cuts without a problem, just as they have for deposit holders.

Effectively they have given the entire cut to the customers they have to pay and only a portion of it to those that pay them.  Seems like an abuse of power to me - the question is what are the government prepared to do to stop them?

Significantly lower rates on fixed loans are a clear indication of whare the banks see rates going, but how long is it going to take to get them there?

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About the Author

Name
Leanne Pilkington
Title
General Manager
Leanne Pilkington
Leanne has over 25 years experience in the real estate industry and in this time has developed an extensive knowledge of the full spectrum of real estate services. She has a thorough grasp of the issues that affect the NSW property market.

In her role as General Manager, Leanne oversees the operation and growth of the entire Laing+Simmons group, as well as focusing on the growth and development of each franchise. She plays an instrumental role in developing new products, services and training systems to meet the varying needs of each franchise.

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Latest News

Do I Buy First, or Sell?
By: Leanne Pilkington, August 31, 2012 16:02

You should never take the first offer on your house – should you?
By: Leanne Pilkington, July 27, 2012 11:49

How can you accurately price your home?
By: Leanne Pilkington, July 09, 2012 10:13

SYDNEY NEEDS THE NORTH-WEST RAIL LINK
By: Leanne Pilkington, May 17, 2012 09:37

BANKS - WHO ARE THEY KIDDING
By: Leanne Pilkington, May 07, 2012 10:54

Would a reduction in Stamp Duty increase property turnover?
By: Leanne Pilkington, April 30, 2012 15:42

2012 Market Outlook
By: Leanne Pilkington, February 01, 2012 15:14

Three reasons why there is no Australian housing price bubble: HSBC's Paul Bloxham
By: Leanne Pilkington, January 20, 2012 15:19

NSW Tenants' groups push for renters to have a greater say
By: Leanne Pilkington, January 20, 2012 15:06

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