Australians are still telling little fibs on their mortgage applications in large numbers – and sometimes their bankers are even helping them.
And a staggering 81 per cent of the 93 respondents who misrepresented their loans with ANZ Bank claimed they were advised to do so by their consultant.in the past year, and the survey’s findings may reflect this. An ANZ spokesman said it remained confident in its verification processes, which has been bolstered more recently by the introduction of Comprehensive Credit Reporting.
“Our numbers are as good as, if not better, than our peers, which provides a strong indicator of ANZ’s capacity to accurately verify loan applications.” Further, 39 per cent of borrowers say their expenses are well below income, while about 60 per cent said they could easily or somewhat easily manage their finances.
Maybe, but nothing else is afforded.