Fears of a debt disaster as property market runs hot and changes to safe lending laws loom
Posted
FriFriday 12
MarMarch 2021 at 7:24pm
Before the global financial crisis, Jacob wanted to develop his then property in the Tweed Valley into a tourist lodge but the bank repossessed it.
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He wanted to develop his then property in the Tweed Valley into a tourist lodge.
But in November 2009, he had a serious accident on the farm tractor and could not work.
He asked his lender at the time who he had taken a high-risk low-doc loan from to let him defer mortgage repayments until he could resume work.
The Senate economics legislation committee has recommended that the bill extending Best Interests Duty to more brokers be passed. The committee has released its final report for its inquiry into the
The Treasury has outlined its position on why the repeal of responsible lending is necessary, in the final day of Senate hearings for its inquiry into the matter.