The impact of home loan key facts sheets on borrowers' comparisons of loan costs
Skelton, Ross Alexander (2015) The impact of home loan key facts sheets on borrowers' comparisons of loan costs. PhD thesis, Queensland University of Technology.
This thesis evaluates the effectiveness of the prescribed design and distribution requirements of the Australian Government's home loan key facts sheets (KFS) aimed at helping borrowers compare loan costs. The findings show that despite effectively improving borrower decision-making, few borrowers were aware of their existence and function. It was also demonstrated that KFS have had limited market impact over the four year window since introduction, likely due to the requirement that KFS provision is not required unless formally requested by a borrower. Recommendations include transferring the burden of disclosure to lenders in the first instance to address this information gap.
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|Item Type:||QUT Thesis (PhD)|
|Supervisor:||Tarr, Julie-Anne & Nicholson, Gavin|
|Keywords:||Accessibility, Behavioural analysis, Behavioural decision theory, Behavioural economics, Bounded rationality, Decision-making, heuristics, Home loans, Key Facts Sheet, KFS|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
|Institution:||Queensland University of Technology|
|Deposited On:||13 Jan 2016 02:46|
|Last Modified:||13 Jan 2016 02:47|
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