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This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about Home Loans from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all provider sand may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. See the rating methodology We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a Home Loan, you will deal directly with a financial institution, and not with RateCity.

Credit Laws

There are credit laws in Australia that financial institutions must abide by. Credit laws are regulated by organisations including the Australian Prudential Regulation Authority (APRA) and the Australian Bankers Association. Even though they have tightened over the past decade, some may argue that credit laws need more tightening.

There are new credit laws that are expected to help regulate the financial industry with providing more access to individuala??s personal information to help assess lending approvals and also hardship provisions will be easier to access. However, there are concerns for the ability of lenders to take advantage of the access to personal information and charge customers a higher rate for circumstances such as late bill payments. Make sure you know your rights when it comes to credit laws before applying for a home loan, personal loan, car loan or credit card.

Read more: Watch your credit habits - Tougher lending on the way

The table below shows today's lowest fixed rate home loan interest rates.


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About Mortgages Articles

RateCity provides mortgage news and features, including a range of weekly stories and economic updates. By checking our mortgage news and features daily, you can ensure that you receive up to date, expert commentary on current financial and economic issues. Before you search, compare or apply for the best mortgage for you, help yourself understand the market by reading mortgage news and features at RateCity.

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