Aussie Home Loans is misleading customers, complaint to ASIC alleges

Discussion in 'Loans & Mortgage Brokers' started by Gill Bates, 23rd Nov, 2019.

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  1. Gill Bates

    Gill Bates Well-Known Member

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    Aussie Home Loans is misleading customers, complaint to ASIC alleges
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    Australia's biggest mortgage broker has misled customers with claims that its services are free, it is scanning the market to find the best deal and it will "find people a quality loan", a complaint to the corporate regulator alleges.

    Instead, mortgage broker aggregator Aussie Home Loans is receiving a commission of 16 basis points per year for its services and "providing people with riskier loans that take longer to repay", consumer advocacy group Choice has alleged in a complaint to the Australian Securities and Investments Commission (ASIC). ...............
     
    Gill Bates, 23rd Nov, 2019
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  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Brokers should be careful with the statements they make. I have seen many making potentially misleading and deceptive statements. asic going after the biggest one to teach a lesson
     
    Terry_w, 23rd Nov, 2019
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    Dean Collins likes this.