Take a look at Note 7 - they really did sell a lemon. As for Net...

Take a look at Note 7 - they really did sell a lemon.

As for Net Interest Margins - both the Home loan (average >7%, using mid-point of loan size for the year) and Personal Loan (average ~14%, using mid-point of loan size for the year) segment have very healthy NIM. I must say, the Interest rate on the mezzanine facility confuses me a little though. They basically make very little money using this facility to write loans.

I guess this is Westpac's way of getting a little bit extra. Once they refinance and increase the line of credit, the NIM on these loans will be seen.