The number of home loan applicants obtaining a mortgage after inflating their income and downplaying their living costs has jumped to record levels, according to research by global investment bank UBS. Thirty seven per cent of borrowers were not entirely honest in their mortgage applications, the bank’s anonymous survey of 903 Australians revealed – despite tougher lending standards imposed since the banking royal commission. The surge in so-called “liar loans” comes amid a rise in...
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