Potential class action looming against home loan brokerage

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The home loan brokerage is accused of exploiting Aussie customers by promoting flawed insurance. 9News

Gary used Aussie Home Loans in 2017 to organise finance for a new property, which is when he said the extra Mortgage Protection Plan was pushed.

Gary was paying $67 a month but the premium kept increasing and by 2020, Gary was in financial trouble. "That was a very stressful time for me, first not having a job, then having to deal with insurance giving me the claim money," he said.Rebecca Jancauskas from Shine Lawyers is now investigating a possible class action against Aussie Home Loans.

Jancauskas said Shine is now trying to understand whether the broker has been acting in the best interest of its clients when selling its policies.

 

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It’s worse in the motor industry. Every individual that buys a car, gets introduced to the Business Manager, its there job to sell insurance product & finance for huge commissions. They include insurance premiums within finance quotes without the customer’s knowledge.

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