Home Loan Key Facts Sheets Introduced
Date: 9/01/2024
Description:
You may have heard alot in the media recently about banking reforms, after an official banking reform package was anounced by Hon Wayne Swan MP in December 2010.
While the first step in these banking reforms was the ban on mortgage exit fees, which came into place on 1 July 2011, the next significant change under the banking reforms make it compulsory for all lenders to provide consumers with a facts sheet for standard home loans on their website and on request.
Known as a Home Loan Key Facts Sheet, this document will make it easier to compare home loans offered by different lenders. As a community owned financial institution, Queenslanders have always been committed to providing our members with quality, easy to understand advice regarding all of our products and services.
As such we welcome the reforms and encourage any members with a home loan at another lender to use the new fact sheets to compare your existing loan to those that are available through Queenslanders. We think you’ll be pleasantly surprised!
To learn more about Home Loan Key Facts Sheets, click on the link below.
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