ASIC has provided confirmation to lenders that a change from principal and interest to interest only repayments can be made if a consumer requests to reduce their repayments and in the short-term.
Nila Sweeney from the Australian Financial Review, published her exclusive overnight, for which David Johnston provided some insights, in her article “No breach for lenders as homeowners switch to interest-only.”
![ASIC allow switching from principal and interest to interest only](https://propertyplanning.com.au/wp-content/uploads/2020/04/etienne-martin-322669-unsplash-1080x675.jpg)