The ABC cited a Western Australian borrower who managed to get mortgages – often interest only loans – for more than a dozen properties without the financial status to service them.
I provided some grabs for the segment, referring to the size of the impending IO loan problem across the country.
Highly relevant in the context of the upcoming Royal Commission hearings which start tomorrow. They just published a background paper on: Everyday Consumer Credit – Overview of Australian Law Regulating Consumer Home Loans, Credit Cards and Car Loans
