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Treasurer Josh Frydenberg announced in September plans to repeal responsible lending obligations in the National Consumer Credit Protection Act in March 2021.
But what does that mean for borrowers, lenders, mortgage brokers and the property market?
Our Founder and Managing Director David Johnston shares insights with Domain’s Kate Farrelly on how to resume home loan repayments if you’ve taken a repayment holiday as a result of Covid-19.
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.”
We recognise this is a very uncertain time for many Australians. Throughout this period, we remain focused on delivering our loyal clients with our continued high level of multi-award winning personalised service.
During this time, we understand that many of you will be feeling anxious about your ability to meet loan repayments. Whether you run your own business or uncertain about your employment, our team is here to support you through.
We recognise this is a very uncertain time for many Australians. Throughout this period, we remain focused on delivering our loyal clients with our continued high level of multi-award winning personalised service.
During this time, we understand that many of you will be feeling anxious about your ability to meet loan repayments. Whether you run your own business or uncertain about your employment, our team is here to support you through.
We recognise this is a very uncertain time for many Australians. Throughout this period, we remain focused on delivering our loyal clients with our continued high level of multi-award winning personalised service.
During this time, we understand that many of you will be feeling anxious about your ability to meet loan repayments. Whether you run your own business or uncertain about your employment, our team is here to support you through.
