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Essay Details:
Essay text:
It’s purpose: to challenge traditional lenders and make home ownership more affordable. Today, Aussie is Australia's largest non-bank lender, offering a range of home loan solutions.” ( Symond 2003).
In this article we examine how John Symond was able to implement this vision in the years between 1992 and 1997. We consider the strategies used, the actions of his competitors and suggest strategies for the future.
BACKGROUND - A DIFFICULT MARKET TO ENTER?
Prior to 1982 the banks had been highly regulated. They were effectively protected from competition but interest rates for housing were capped and this made home loans unprofitable at times of high interest rates...
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