Key issues: 

Unjustness | Lo-doc loan | Loan application | Change in interest rate | Fees | Broker | Lender | Agency (whether broker was agent of lender)


  • I find that the loan entered into by the consumer with the FSP was not unjust at the time it was entered into. Primarily, this is because the lender made inquiries about her financial circumstances and was provided with information on which it was entitled to rely, and which was sufficient to show that the loan was appropriate. The fact that some of that information did not accurately represent the consumer’s true financial position is not something that the FSP was, or ought to have been, aware of.

  • As part of her primary complaint that the loan was unjust the consumer has made other claims about the loan and the conduct of the FSP. For the reasons set out in this Determination, I do not consider any of those claims to have been made out.

Follow this link for a full copy in PDF  >> Determination | 17 October 2016