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ASIC's Review of interest-only home loans

Discussion in 'Property Finance' started by Terry_w, 22nd Sep, 2016.

  1. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    REP 493 Review of interest-only home loans: Mortgage brokers’ inquiries into consumers’ requirements and objectives
    Released 14 September 2016

    This report follows on from Report 445 Review of interest-only home loans (REP 445), which highlighted the importance of responsible lending practices for interest-only home loans.

    It describes the practices of 11 large mortgage brokers and trends in the market after REP 445. It identifies good practices as well as opportunities to improve brokers’ practices.

    Our reviews are intended to promote responsible lending and consumer confidence in the credit industry.

    Download the report (PDF 479 KB)

    http://asic.gov.au/regulatory-resou...s-into-consumers-requirements-and-objectives/