Planning to pay off your 25 year home loan in under 5 years? If it sounds too good to be true – maybe it is.
The Australian Securities and Investments Commission is cracking down on lenders who are misleading customers with false advertisement options for paying off their home loan. These lenders may have breached consumer credit laws and clearly set unrealistic expectations that can harm the customer’s financial well-being. Customers are advised to consult a licensed financial planner to provide them with the realistically attainable loan options rather than relying on these types of advertisements.
Read more about this on the Broker News website.