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Concern over number of people with interest only mortgages

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ANZ CEO Shayne Elliott prepares to speak during the House of Representatives Economic Committee inquiry at Parliament House in Canberra, Wednesday, October 11, 2017. (AAP Image/Lukas Coch) NO ARCHIVING

Chief Executive of the Business Council of Australia Jennifer Westacott, Canberra, Wednesday, October 11, 2017. (AAP Image/Lukas Coch) NO ARCHIVING Source: AAP

Consumer groups have expressed concern after banking giant Westpac revealed half of its customers with mortgages are still paying interest-only on their loans. That's despite a regulator push for a cap, and it comes off the back of rising household debt and slow income growth.

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By Marija Zivic, Samantha Beniac-Brooks, Amir Bukic

Source: SBS

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Consumer groups have expressed concern after banking giant Westpac revealed half of its customers with mortgages are still paying interest-only on their loans. That's despite a regulator push for a cap, and it comes off the back of rising household debt and slow income growth.

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