More than a third of home loan customers facing financial hardship dropped requests for help
A damning report has found the nation's big banks are failing mortgage holders and they're not doing enough to help struggling borrowers. The corporate watchdog reviewed hardship arraignments arrangements of 10 banks and other lenders, finding it was often too confusing and frustrating for customers who are already stressed. The report released by ASIC also shows the number of borrowers falling behind on repayments has increased along with interest rate hikes.