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Interest-only loans expensive and inappropriate for most owner-occupiers: ASIC

Banks and mortgage brokers have been put on notice that they will be pursued by the Australian Securities and Investments Commission unless they tighten up their selling of interest-only loans to home buyers.

Interest-only loans expensive and inappropriate for most owner-occupiers: ASIC
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While ASIC's interim review found major banks have cut back their interest-only lending, this has been offset by smaller lenders increasing their share of that market.

Read the full article on ABC Online.

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