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Walker Corp goes green with new loans on flagship towers

Walker Corp goes green with new loans on flagship towers By Carolyn Cummins Property developer Lang Walker has struck an agreement with leading banks to create green loans for its flagship assets as it joins the push by all companies to focus on reducing their environmental impact and making buildings more sustainable. Under the deal, Walker Corporation, one of the country’s largest private developers, will create new green loans for its Parramatta Square in Sydney and Collins Square in Melbourne. The loans are with the Commonwealth Bank of Australia (CBA) and ANZ Bank. An artists impression of Lang Walker's $3.2b Parramatta Square project.CREDIT: It comes as the property sector embraces sustainability and focuses on the environmental, social, and governance (ESG) criteria of the business. It has become a priority for developers with more tenants now looking for higher rated properties to lease and investors using it as a key inclusion in a sale. Walker …

Mortgage costs to jump as interest rate rises loom, warns CBA

Mortgage costs to jump as interest rate rises loom, warns CBA ahead of Reserve Bank meeting By business reporter Michael Janda CBA is expecting interest rates to rise earlier and faster than many other institutions. (ABC News: John Gunn)

Australians could soon be paying more than $26 billion a year in extra mortgage repayments as interest rates begin to "normalise", but the Commonwealth Bank argues there are several reasons why most households will be able to cope just fine.

Key points: The RBA's interest rate decision will be announced at 2:30pm AEST, followed by a rare press conference from the governor No-one is expecting a rate rise, but there are likely to be announcements about the future of other measures that have kept mortgage rates very low CBA says households should be able to cope with a forecast rise in the cash rate from 0.1 to 1.25 per cent over the next two-and-a-bit years Read more

NAB to offer six-month deferred loans for businesses

NAB to offer six-month deferred loans for businesses impacted by coronavirus

NAB is introducing a business loan package, which will enable small businesses to access up to $1 million.

Gerard Cockburn

NAB will offer small businesses loans of up to $1 million with a six-month pause on repayments. Picture: NCA NewsWire/Bianca De MarchiSource:News Corp Australia

National Australia Bank will defer loan repayments by up to six months for businesses urgently needing to access funds to endure the economic storm sparked by the coronavirus pandemic.

The major bank will implement a new loan scheme, which will allow small businesses to access up to $1 million, with no repayments required for the first six months of accessing the debt facility. NAB’s new Business Support Loan follows a revision of the SME guarantee scheme, which is providing businesses with debt that is partly backed b…

Westpac, St George: Banks hit by class action over car loan ‘flex commissions’

Alannah Fox was forced to pay a whopping $24,864 in interest for a 2015 Hyundai. Now, she and many other Aussies are fighting back.

Alexis Careycarey_alexis When Alannah Fox bought her first new car, she trusted she was getting a fair deal on her loan. Instead, the teachers’ aide, who was 25 at the time, was charged 12.99 per cent on a loan of just over $47,000 – which meant she had to pay a staggering $24,864 in interest for her 2015 Hyundai ix35. She claims she was only told of the interest rate after the deal was struck. “They didn’t tell me the interest rate until I went to pick up the car. We bargained hard on the initial price, but I believe they knew what they were doing and slugged me with the high interest rate to compensate,” Ms Fox said. Ms Fox is now one of the lead applicants in a new class action over shonky bank car loans, which leadi…