Intelligence suggests that some interest only loan borrowers are being encouraged to change lenders as their loans come up for review, across a number of banks.
This video summarises our research, based on feedback from 13 individual borrowers, who have confidentially messaged me over the past couple of weeks. Three respondents did not know they had an IO loan, so it came as a bolt from the view. They have a month to consider their alternatives.
I cannot independently validate their situations, but I ask whether this could be the start of a trend in the months ahead.
