RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%

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Example Interest Rates: Home Loan Variable: 5.69% (5.89%*) • Home Loan Fixed: 5.39% (6.59%*) • Fixed: 5.39% (6.59%*) • Variable: 5.69% (5.89%*) • Investment IO: 5.69% (6.48%*) • Investment PI: 5.39% (6.59%*)

Video Archive

1.16 – Westpac’s Head of Specialist Finance Testifies at the Banking Royal Commission

Views 14 Likes 0 Dislikes 0 Published December 29, 2020, 11:49 pm

Phillip Godkin, general manager of specialist finance at Westpac, is being questioned about flex commissions paid by lenders to car dealers, allowing a dealer to set the interest rate on a car loan: the higher the interest rate the larger the commission earnt by the dealer. Recorded on 21 March 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.

Belief has archived all data made available by the Banking Royal Commission with information available on our blog, in Yabber, or via the BRC API.

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Martin is the Managing Director of BeliefMedia Pty Limited, and Australia's leading Finance Marketing Specialist. He is supported by a team of Australia's finest. Read more about Marty here.

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The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice. [ Example Credit Guide Link ]

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Video Archive

1.16 – Westpac’s Head of Specialist Finance Testifies at the Banking Royal Commission

Like this article?

Martin Khoury

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