RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%

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Example Interest Rates: Home Loan Variable: 5.69% (5.89%*) • Home Loan Fixed: 5.39% (6.59%*) • Fixed: 5.39% (6.59%*) • Variable: 5.69% (5.89%*) • Investment IO: 5.69% (6.48%*) • Investment PI: 5.39% (6.59%*)

Video Archive

3.10 – A franchisee who borrowed money from Bank of Queensland testifies at the Banking Royal Commis

Views 12 Likes 0 Dislikes 0 Published December 29, 2020, 11:49 pm

Suzanne Riches, an Adelaide primary school teacher, gives evidence on how she agreed to purchase two Wendy's franchises, only for Bank of Queensland to double her monthly interest payments once it was already too late to pull out of the contracts, forcing her to liquidate her company and sell her house.

Recorded on 23 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.

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Martin is the Managing Director of BeliefMedia Pty Limited, and Australia's leading Finance Marketing Specialist. He is supported by a team of Australia's finest. Read more about Marty here.

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The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice. [ Example Credit Guide Link ]

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Video Archive

3.10 – A franchisee who borrowed money from Bank of Queensland testifies at the Banking Royal Commis

Like this article?

Martin Khoury

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