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Responsible Lending Laws Changes 2021: What It Means for You
- February 8, 2021
- Posted by: Serres Property Finance
- Category: News
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In September 2020, the Australian Government announced plans to wind back responsible lending laws by March 2021 to support economic recovery after COVID-19. The changes shifted more responsibility onto borrowers and reduced the forensic scrutiny lenders applied to living expenses. Mortgage brokers retained strong protections through the Best Interest Duty.
