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  Mortgage Articles: What Must Lenders Provide

When taking out a home loan, it is important to be aware of your legal rights as a borrower and know what to do if things go wrong. This is difficult, however , as Australian homebuyers are subject to a somewhat confusing array of codes and regulations.

What must lenders provide?
Under the Uniform Consumer Credit Code (UCCC), your contract must disclose:
  • interest rate;
  • details of loan repayments;
  • the amount borrowed;
  • any extra fees;
  • information about notification of significant changes;
  • details about statements;
  • security;
  • commissions;
  • insurance;

Read this information thoroughly before signing and, if necessary, seek professional advice to ensure everything is in order.








 






 






 

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