Mortgage News

Southern Cross Finance to refund borrowers up to $700,000

Thursday 3rd of February 2011

The Commerce Commission's enforcement branch manager Graham Gill says before the Commission's investigation in 2009, Southern Cross Finance had been charging customers an establishment fee that was generally about 1-2% of the loan advanced.

 "In the Commission's view, establishment fees for consumer loans that are a percentage of the loan advanced are inherently unlikely to reflect...

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