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IPA partners with non-major bank for member benefits

The Institute of Public Accountants has announced a partnership with a non-major bank to provide members access to “competitive” home loan rates and advice.

Professional Development Jotham Lian 26 February 2018
— 1 minute read

The partnership with St.George, inclusive of St.George Bank, Bank of Melbourne, and BankSA, will provide IPA members access to special home loan rates and mortgage advice. 


“We are delighted to form an alliance with such strong and reputable brands in the banking sector,” said IPA chief executive, Andrew Conway.

“Our members can access very competitive home loans or refer clients seeking home loans and mortgage advice to any of the three banks.

“This is a great advantage for our members and their small business clients in particular.”

St.George’s head of home lending, Gavan Thompson, welcomed the partnership and said that all of the brands were excited to be aligned with the IPA.

“We feel that our brands fit well with the IPA, particularly with their strong service delivery and community focus,” said Mr Thompson.

“Accountants are vital as trusted advisers to their clients and we look forward to being of assistance to them with any home lending needs.”

Securing finance is high on the list of SME struggles, especially as personal capital is often drawn on to fund a business.

Accountants Daily recently found that mortgage stress is prompting SMEs to consider risky planning strategies to cope with their levels of debt.

“I would have to say that small business owners are heavily affected. Your income is not always consistent, as opposed to being a PAYG. Mortgage stress is across the board I don’t believe it discriminates as it’s relative to each type of borrower. Property investors and high-net-worth individuals tend to be asset rich but lack cash flow until their development is complete and/or sold/leased out,” Lielette Calleja, director at bookkeeping firm All That Counts, told Accountants Daily.

Further, Ms Calleja is finding that clients are modifying their behaviours and expenses to adjust to a new normal in household debt levels.

“Families that are not in a position to refinance are resorting to taking their kids out of private schools and foregoing luxury holidays, even simple things like making your own lunch instead of buying is becoming the Aussie way,” she said.

“Small business owners are coming to the conclusion that having good financials consistently all year round is critical in keeping their mortgage stress levels at bay,” she added.

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IPA partners with non-major bank for member benefits
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Jotham Lian

Jotham Lian

Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.

Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.

You can email Jotham at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

Professional Development