Determination - 8 December 2014

Key issues: Credit | Mortgage lender | Contract not unjust | Consumers able to protect their own interest | Compliance with lending guidelines | Deferred establishment fee not unlawful

Summary of Determination

  1. I find that the consumers’ complaint against the FSP has not been made out; in particular:
    1. the loan agreement the consumers entered into with the FSP was not an unjust contract; and
       
    2. the Deferred Establishment Fee (DEF) charged by the FSP was adequately disclosed, correctly calculated and was not otherwise unconscionable or in breach of the law. 

Follow this link for a full copy in PDF >>  Determination | 8 December 2014