Choice consumer group lodge complaint to ASIC on Aussie Home Loans advertising

The consumer group Choice have gone straight to ASIC to complain about the use of certain terms in Aussie Home Loans promotions of their mortgage rates.

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”.

Choice said the language used misrepresents how mortgage brokers work.

Aussie CEO James Symonds, son of Aussie founder John Symonds, told the Daily Telegraph he couldn't recall the brand using the terms "perfect" or "best" in any recent ad campaigns.

He also said it was “crazy” that consumer group Choice hadn’t brought its concerns to Aussie first.

Choice CEO Alan Kirkland said the company are concerned people who had seen the ads will have likely formed the "incorrect impression that mortgage brokers will scan the market to find them a high-quality loan."