New home loans deal from HBF, BOQ

THE first deal between HBF and the Bank of Queensland since a deal between the two companies was signed in April has been announced, with HBF members to be offered home loans towards the end of the year. Under the agreement, the product will be manufactured by BOQ, with HBF distributing them under its own brand. HBF managing director Mike Gurry said HBF was committed to generating growth in areas other than health insurance, to reduce the pressure on premiums. “The ageing population and spiralling health costs are continually putting pressure on health insurance premiums, and HBF is focused on finding alternative income streams to help ensure the long-term viability of the fund,” he said. The Bank of Queensland began an aggressive expansion program into other states in 2001, and has announced its plans to open a second WA branch office in Applecross next month.