CCR was introduced in Australia in 2014. This is a shift from a negative reporting system to a positive reporting system. However, up until now it has not been mandatory for lenders to adhere to the CCR guidelines. That has NOW changed for the big 4 banks.
With multiple lenders and hundreds of ever changing mortgage products available, finding the home loan to suit your individual needs is not only a complex process it usually requires shopping around. This has resulted in more and more home buyers turning to mortgage brokers for expert assistance.