Choice complains to ASIC about Aussie’s ‘dodgy’ home loan advertising

Aussie’s attempts to get consumers to use its mortgage broking services instead of going directly to a bank rely on “dodgy” claims, according to consumer group Choice.

Choice said Aussie Home Loans, owned by the Commonwealth Bank, was a “prime offender” in misleading home loan customers. Based on this belief, Choice has lodged a complaint with the Australian Securities and Investments Commission (ASIC).

Aussie is owned by CBA

Choice claims Aussie spent $25m promoting its services between 2016 and 2018, and relied on guarantees such as finding consumers the “perfect loan”, “best deal”, and “best mortgage rate” – language which Choice said misrepresents how mortgage brokers work.