First home buyers are being gouged by mortgage insurance

Monday 12 February 2018

Two of the big banks have today been accused of gouging first home buyers (FHBs) with mortgage protection insurance, according to analysis by Lifecompare. From The Australian:

CBA is selling customers its CBA mortgage protection product at a 92 per cent premium while ANZ’s mortgage protection product is being sold for 2.95 times more than similar coverage available elsewhere.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.