The error led to those customers continuing to make interest-only repayments on their loans, instead of being switched to principal and interest repayments at the end of their interest-only period.
Read the full article on ABC Online.
Westpac to refund $11m to overcharged interest-only mortgage customers
Westpac has committed to pay a total of $11 million in compensation to customers who held one of 13,000 owner-occupier, interest-only home loans affected by a mortgage processing error.
