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Couple suing Westpac for letting them borrow too much money, page-6

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Beave

6,094 Posts.

335

21/02/19

21:55

Post #: 37523377
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Originally posted by lispingduck ↑

Originally posted by Digglet
https://www.news.com.au/finance/bus...g/news-story/6b3d4058db96c442c05ae0e2112f32c6

Single income couple borrow $1.8M across 5 properties but now can't pay the loan off, so they're suing Westpac for "irresponsible lending". I guess the bank held a gun to their heads and made them buy 5 properties they couldn't afford.

"They said the bank grossly underestimated their expenditure"
Now imagine what would have happened had the market not turn and prices of those investments went up and up. They’d could have been on the front cover of property investment magazine and praised go getters and savvy investors by some hot copper regulars - with quotes like instead of blaming and complaining about fairness they went out and set themselves up to be wealthy..

equiddy mateee.....

I really wonder how those property ‘moguls’ are going now. That pizza delivery guy, the young lady who got that little assistance to buy several properties here in Aust and in the UK from an inheritance etc etc..

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Exactly, if this is not thrown out id be very surprised ......... They threw the dice and had a bet and it got beat. Stiff sheet
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