View Full Version : 'One Big Switch' launched today!

31st July 2011, 08:13
Australian homebuyers are being encouraged to band together and pressure the big banks to lower interest rates.

Consumer group Choice has partnered with Kevin Rudd's former adviser Lachlan Harris, to launch 'One Big Switch'.

The website hopes to use mass bargaining power to negotiate lower rates.

The site comes ahead of next week's Reserve Bank meeting, where some economists fear a rate rise could throw the country into recession

The website is believed to be a world first.

Please read the following article from www.choice.com.au for more information...

Fighting cost of living pressures with first ever Big Bank Switch

CHOICE wants 1000 Australians to form group for better and cheaper mortgages

In an Australian first, the people’s watchdog CHOICE, is launching the CHOICE Big Bank Switch which aims to find 1000 Australians willing to switch mortgages to find a better deal.

In partnership with the organisation which has pioneered the process, One Big Switch, consumers can register on-line at no cost and obligation-free to become part of a group switch designed to source special mortgage offers.

The CHOICE Big Bank Switch is Australia’s first ever mortgage switch and when completed could be the largest group switch of its kind.

One Big Switch will use the power of the CHOICE Big Bank Switch campaign to source special mortgage offers.

These offers will be passed on to mortgage holders registered with the CHOICE Big Bank Switch based on objective criteria such as:

• The quality of the mortgage product.
• Fair terms and conditions; and
• A genuine group discount.

The purchasing power of group switching means ordinary mums and dads could get the big discounts that large companies and millionaires enjoy every day.

“CHOICE’s vision is to unlock the power of consumers. We recognise the possibilities with mortgages and other markets to create groups of consumers which have massively enhanced bargaining strength. This may just be the start,” says CHOICE director of campaigns & communications, Christopher Zinn.

“One Big Switch wants to use the power of group switching to help ordinary consumers to pay less for their household bills. With enough community support the CHOICE Big Bank Switch could cut the cost of many families biggest bill, their mortgage,” says co-founder of One Big Switch, Lachlan Harris.

How will the CHOICE Big Bank Switch Work?

To be part of the CHOICE Big Bank Switch, mortgage holders simply visit www.bigbankswitch.com to register. Registration is quick, easy and obligation free and is due to be open for two weeks until 23.59 AEST August 14, 2011.

Banks will compete with each other to make special group switching offers to all those mortgage holders registered with the CHOICE Big Bank Switch.

One Big Switch will pass on special mortgage offers from lenders, based on objective criteria such as product type, terms and conditions and discount.

Registered mortgage holders choose if the mortgage offer is right for them.

What will be the impact of the CHOICE Big Bank Switch?

There are no silver bullets when it comes to the cost of a mortgage, but the CHOICE Big Bank Switch has the capacity to turn the tables in the relationship between banks and their customers.

Switching banks is a great way to save. However, one consumer switching their bank alone will never have the negotiating power they need to make the banks sit up and take notice.

By unlocking the power of group switching, the CHOICE Big Bank Switch could help change that power imbalance, making sure bank customers really do get heard.

One Big Switch is powering the CHOICE Big Bank Switch as part of One Big Switch’s ongoing campaign to help consumers pay less for their regular household bills.

Mortgage holders who wish to be part of the CHOICE Big Bank Switch, or who want more information, should visit www.onebigswitch.com.au

So great to see a program/scheme like this one being undertaken to combat the greedy banks... brilliant, simply brilliant!

Mad Hatter
31st July 2011, 17:00
Red Flag!! If this was truly about helping Joe Six pack, why do Choice need the services of Lachlan Harris the ex spin doctor extraordinaire for that NWO Fabian Socialist oxygen thief, otherwise know as Mr Complete. (K.Rudd)

31st July 2011, 17:15
Get rid of VARIABLE loan agreements.... any loan that allows the lender to change to interest rate at any time for any reason is one of the greatest ways devised to keep people in debt.....

Get back to common law... Offer... Consideration.... Acceptance... FIXED RATE ONLY..... no more goal post moving....

This is all just another smoke and mirrors scheme... IMO

Nanoo Nanoo
31st July 2011, 19:22
Hmmm .. Firstly good point Lord Sid with Lachlan Harris running this .. If he is a crook once he is a crook twice. Second good point , if they really wanted to make us a better deal they would push for fixed rate loans. thirdly look at this timing .. During the Census ... and the cut off .. why a cut off ? why not a continued run on ? Becaue lachalan Harris is doing a deal .. he is rallying for people to band together , then sell them off to the banks and get a skim off the top ..

This MAY get you a better deal... lets not be totally pessimistic .. however Keep your eyes open and look for the fine print.. bankers have a way of twisting the knife and just not caring one iota. The very fact they are in banking is a sign that something is missing from their moral radar.


31st July 2011, 22:14
Red Flag!! If this was truly about helping Joe Six pack, why do Choice need the services of Lachlan Harris the ex spin doctor extraordinaire for that NWO Fabian Socialist oxygen thief, otherwise know as Mr Complete. (K.Rudd)


You know, not everything in this world has to be connected to some elaborate conspiracy aimed at keeping the common man down.

Seriously, this information has had practically NO mainstream media coverage. In fact, the only reason I found out about it was because I happened to come across a small (2cm x 5cm) article on page 28 of the Queensland Times newspaper (hidden amongst a bunch of other insignificant stories).

The way I see it, if this truly was part of some grande scheme to further diminish the rights of the little man (as you seem to be suggesting) then wouldn't you think it would be getting a lot more media attention??

Then again, maybe I'm just another one of those ignorant, gullible, fools who doesn't realise it when he's being conned...

Nanoo Nanoo
31st July 2011, 22:22
id say it is good you bring it to us D Day , you are no fool. But behind something is always something else. Wether it be good or bad ..

the truth is we sdont really know the complexities behind a sceaming govt.. IMO if someone wanted to bring about a positive change they would strive to impliment a change that truly benefits us. IE fixed term rates. Capped at 4 % this is more than enough profit ! However the theory behind the site is actually one that would work. Gathering a group of people can sway things like banks much better than if 1 person could. So from that perspective its a good thing. Just remember that if a [person makes it to such a high position in a corrupt government this must mean they too are corrupt to the core.. this means you must have your eyes open .. you may just need to really squint to read the fine print. You dont want to end up signing over your home to the person who bolstered the deal for you .. do you ?

Anyway ... what was my point ... hmmmm lol