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Concern over number of people with interest only mortgages

Banks
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.


Published

Updated

By Samantha Beniac-Brooks, Marija Zivic

Presented by Sanja Damic

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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