Wizard Home Loans waves wand for last time

Wizard Home Loans has finally exited the realm of mortgage lending after Aussie finally brought up its book today (February 24th).

Aussie Home Loans, a one-time of competitor of Wizard, announced its intention to buy out the non-bank lender on Christmas Eve and has this week been given the go-ahead.

However, for home loan customers who are keen on the memorable brand, Aussie’s executive chairman has told the Sydney Morning Herald that the Wizard may be brought back to life for certain products.

Symond also expressed his delight at snatching Wizard from National Australia Bank at the 11th hour, putting paid to the bank’s proud announcement last week that it was in advanced talks with Wizard’s owners GE Finance.

And for those Wizard customers who are wondering what the effect will be on their interest rates, the Herald reports that home loan rates are likely to be slashed by a full one per cent by March.

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