More ‘liar loans’ at ANZ than other banks: UBS survey

and suffered hefty blowouts in the time it takes to assess loans, meaning if the survey is correct it has suffered a double whammy of being slow and inaccurate.

But he said the banks had several defences, citing the fact that 51 per cent of customers are more than three months ahead on mortgage payments ; 25 per cent of respondents have levels of savings buffers and emergency funds at hand to cover seven to 12 months’ repayments; and 39 per cent of respondents said their total household income is well above spending.

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The good news about all the lies told on home loansBorrowers are still fibbing on their mortgage applications in big numbers, but UBS believes those who have bought in the last year can withstand rate rises. Maybe, but nothing else is afforded.
Source: FinancialReview - 🏆 2. / 90 Read more »