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ARTICLE · 20 JUNE 2012

Home loan key fact sheet (KFS)

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Lenders who provide a Key Fact Sheet (KFS) for standard home loans must comply with the newly amended regulations.

AustraliaFinance and Banking
Jon Denovan
Jon Denovan
Amy Ciolek
Amy Ciolek

From 1 October 2012, lenders who provide a Key Fact Sheet (KFS) for standard home loans must comply with the amended KFS regulations released on 18 June 2012.

KFSs are essentially a personalised comparison rate statement, setting out the specific cost for the specific loan a borrower requires. The intention is to allow consumers to shop between lenders.

As a result of the amendments contained in the National Consumer Credit Protection Amendment Regulation 2012 (No.1) the changes listed below must be made to KFSs by 1 October 2012. Until then, existing forms or forms amended as shown below may be used.

A mark up showing these changes can be accessed [ here] and a clean version can be accessed [ here].

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