18 Jan 2022

Home buyers go through the mortgage wringer after law change

From Morning Report, 7:34 am on 18 January 2022

Potential home buyers are being told they could face their pre-approvals being declined or withdrawn for many months yet.

The warnings come as an investigation begins today into whether banks and lenders are abiding by a law change to protect borrowers as intended.

As political reporter Charlie Dreaver explains, complaints to the independent Banking Ombudsman are also increasing.