ASIC puts sub-prime interest-only lending on notice

Wednesday 11 October 2017

ASIC’s has released its review of interest-only lending, which has put both banks and mortgage brokers on notice to tighten up their selling of interest-only loans or risk regulatory intervention:

ASIC has concluded the first stage of its targeted review, which involved data collection from 16 home loan providers (including large banks, mid-tier and smaller banks, and non-bank lenders).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.