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Aussie Home Loans faces potential class action
Aussie Home Loans has been accused of selling deceptively low-value policies to customers in a new class actions investigation.
Lauren Croft
Shine Lawyers has launched a class action investigation on behalf of tens of thousands of home owners who were sold a policy by Aussie Home Loans, which was ultimately of limited or low value.
The class action investigation will examine whether the brokers owed a duty of care to act in their client’s best interest, whether that duty was breached, and whether their sale of the product was misleading or deceptive, or amounted to unconscionable conduct. Anybody who bought a Mortgage Protection Policy from Aussie Home Loans from September 2016 onwards may be eligible for the potential class action.
Class Actions practice leader Rebecca Jancauskas said it was often first home buyers who were forced to hand over an extra thousand dollars or more a year to pay for the policies.
“It’s hard enough to get a foot on the property ladder, and if brokers are selling unnecessary insurance, it makes it even harder,” she said.
“Buying a home is a complex and stressful process. We’re investigating whether Aussie Home Loans exploited its clients by selling them a policy that was essentially worthless.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
