Yellow Brick Road to offer mortgage discounts
Macquarie Group will fund mortgages through Yellow Brick Road's 130-store retail network, to offer “aggressively priced” mortgage products.
Mark Bouris, the Yellow Brick Road chairman, said the deal would “bring back choice, access and competition like there was in the 1990s.”
“Plenty of commentators, including politicians, talk about the need for competition,” he said. “This is a game-changer that will take the big four head on.”
Yellow Brick Road will undercut the big banks by offering a 1.15 percentage-point discount on all new home loans for the first 12 months of the loan. It will also offer discounts for the life of the loan.
Source: The Age