Westpac

[pooxs]

Why is there such a fuss about Westpac raising their interest rate? Yes, it's going to cost you more, but if you're not happy then go somewhere else!

How is it any different from any business deciding they aren't making enough money/want to make more money and putting up their prices? If you like the product and can afford the extra interest stay

Comments

[pooxs]

loans are not an essential service.

how about I compare it to doctors who regularly hike their rates so they can earn more?

the PT comparison was to put a face to the situation, since most people think big corporations arent full of people that have wants like the rest of us

[pooxs]

well we'll just have to agree to disagree, because as far as I'm concerned banks are things that, like personal trainers, are nice to have around because they make things easier (handling money and exercise), but in no way are essential (in the terms of loans and needing to lose weight/stay fit)

[japester]

Realistically, if you want to own a house, then the choices available to make that happen are very limited. Mortgage with a bank, an alternate institution, inheritance, or selling other people's children.

[pooxs]

ooh I like the selling other peoples children idea. can I do that?

[pooxs]

if you want to own a house, then no, they aren't optional. however, my main point still stands that if people can't afford a rate increase then they shouldn't have a loan in the first place