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Business Scoop - January 2007

Pick up a Home Loan at the Supermarket?

January 10th 2007 08:07
Coles Logo


The West Australian reports that shoppers may soon be able to grab a mortgage at the checkout as speculation mounts Australia's supermarket giants are about to start a major push into financial services.


In the UK retail giants Tesco and Sainsbury’s already offer a range of financial services and Woolworths said yesterday it was finalising its strategy.
It is believed Coles and Woolworths will partner with one of the major banks or other financial institutions to offer these services.

Supermarkets in Australia have tried offering other financial services such as credit cards in the past with limited success, will home loans fair any better?
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