Sharechat Logo

Commonwealth Bank to buy A$4 bln of Wizard loans, NAB ends talks

Wednesday 24th December 2008

Text too small?
Commonwealth bank of Australia, that nation's biggest home lender, will buy A$4 billion in mortgages from General Electric's Wizard Mortgage Corp.

The transaction is in conjunction with the purchase by Aussie Home Loans of Wizard's brand and distribution network, Commonwealth Bank said in a statement. Separately today, National Australia Bank announced it had ended talks to buy the assets along with the portfolio of prime Wizard mortgages.

The mortgage portfolio comprises prime mortgages with a maximum loan-to-valuation ratio of 90% and is 100% mortgage insured.

By Jonathan Underhill

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report