Mortgage offset account errors mean some Australians are owed thousands of dollars. Are you among them?

Asic review finds banks repaid millions to borrowers who unknowingly paid too much interest on their home loansFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe corporate regulator has detailed how banks have had to pay tens of millions of dollars in compensation to customers for mortgage offset failures.In a new report, the Australian Securities and Investment Commission showed lenders repaid $55m to customers over two years after they unknowingly paid too much interest on their mortgages – and warned the number would climb higher. Continue reading...