{"id":40228,"date":"2022-09-15T08:27:05","date_gmt":"2022-09-14T20:27:05","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=40228"},"modified":"2022-09-15T08:27:05","modified_gmt":"2022-09-14T20:27:05","slug":"class-action-against-aussie-home-loans","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/class-action-against-aussie-home-loans\/","title":{"rendered":"Class action against Aussie Home Loans"},"content":{"rendered":"

PHOTO: Aussie Home Loans<\/strong><\/p>\n

A law firm is investigating launching a class action after it alleged ordinary Australians were \u201cexploited\u201d in a situation that is already stressful and complex.<\/p>\n

\n

Thousands of Aussies may have been \u201cexploited\u201d by a major home loan provider selling them a \u201cworthless\u201d product.<\/p>\n<\/div>\n

Shine Lawyers has announced it\u2019s investigating a possible class action on behalf of tens of thousands of homeowners who were sold a policy by Aussie Home Loans, which they claim was ultimately of limited or low value.<\/p>\n

\"SEXY<\/a><\/div>\n
\n
\n

Sexy real estate agents \u2013 FUN Instagram Page | sexy.agents<\/a><\/h2>\n<\/header>\n<\/div>\n

The mortgage protection policy was touted as a kind of life insurance which would help cover home loan repayments in the event of illness, loss of employment or death, according to the law firm.<\/p>\n

Shine alleged it was unnecessary given many customers may have already had similar and better coverage or that there were other policies available which were cheaper and provided substantially better cover.<\/p>\n

\n
\"Shine<\/div>\n

Shine Lawyers are alleging the product was basically \u2018worthless\u2019. Picture: Getty Images<\/strong><\/em><\/div>\n

\n
\"Aussie<\/div>\n

Aussie Home Loans and Lendi Logo merged in 2021. Picture: Supplied<\/strong><\/em><\/div>\n

Its investigation will examine whether the brokers breached a duty of care to act in their client\u2019s best interest and if the sale of the product was misleading or deceptive, or amounted to unconscionable conduct.<\/p>\n

\"Westpac\"<\/a><\/div>\n
\n
\n

Westpac becomes the last of the Big Four banks to raise interest rates \u2013 as borrowers cop the fifth increase in a row<\/a><\/h2>\n<\/header>\n<\/div>\n

Rebecca Jancauskas, Shine\u2019s class actions practice leader, said it was often first homebuyers who were forced to hand over an extra thousand dollars or more a year to pay for the policies.<\/p>\n

\u201cIt\u2019s hard enough to get a foot on the property ladder, and if brokers are selling unnecessary insurance it makes it even harder,\u201d she said.<\/p>\n

\u201cBuying a home is a complex and stressful process. We\u2019re investigating whether Aussie<\/p>\n

Home Loans exploited its clients by selling them a policy that was essentially worthless.\u201d<\/p>\n

\n
\"Rebecca<\/div>\n

Rebecca Jancauskas, Shine\u2019s class actions practice leader. Picture: Joel Carrett\/AAP<\/strong><\/em><\/div>\n

A spokesperson from Aussie said the company was aware of reports regarding a law firm reviewing aspects of an insurance product offered by third party insurers through Aussie.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

MOST POPULAR IN NEW ZEALAND<\/span><\/h3>\n