CBA free to control Aussie Home Loans Commonwealth Bank is free to seize control of independent mortgage provider Aussie Home Loans after the competition watchdog gave its blessing to the deal. The Australian Competition and Consumer Commission's nod frees the bank to increase its stake in the mortgage lender from 33 per cent to full ownership. "In reaching its view, the ACCC took into account the competitive constraint arising from the presence of a number of alternative suppliers of home loan products and mortgage distribution services," chairman Rod Sims said. Aussie was set up by John Symond in 1992 as an alternative to the big four banks. The bank flagged last December that it wanted to lift its stake in Aussie in a deal believed to be worth $200 million. Mr Symond at the time denied he had sold out to the big banks by allowing the deal with Commonwealth Bank. The ACCC said while Aussie Home Loans franchisee brokers would still offer mortgages from a range of lenders, there was a chance the bank could entice them to push its products. However the watchdog said it did not believe this would lead to a substantial lessening of competition as Aussie Home Loans brokers made up six per cent of Australia's mortgage brokers.