Banking & finance
Many Australians with older home loans continue to pay significantly higher interest rates than borrowers with newer home loans, potentially costing them many thousands of dollars over time, the ACCC has found in a report published today.
The final report of the ACCC’s Home loan price inquiry highlights that many borrowers could save money by seeking a lower rate from their existing lender or switching to a new lender.
On 30 July 2020 the Australian Competition and Consumer Commission (ACCC) entered into a Memorandum of Understanding (MoU) with the Office of the Australian Information Commissioner (OAIC) relating to the performance of their respective roles in regulating the Consumer Data Right system. The purpose of the MoU is to: