Your lender is the financial institution that loaned you the money ―usually a bank, credit union or mortgage provider.
has started court action against you.
A home loan is the money a lender gives you to buy a home. This is also called a mortgage.
Your lender will give you an amount of money. This is called the principal loan. You must repay the principal plus the interest on that amount over a set period of time.
You and your lender can agree if your repayments will cover the interest only or the principal and interest.
You must make regular repayments to pay off the loan—usually every fortnight or every month.
This guided pathway only deals with the home you live in. It does not cover business or commercial loans or private loans between friends or family members. For more information see the factsheet Does the National Credit Act apply? on the Financial Rights Legal Centre website.
This guided pathway gives you information only. It is not legal advice. It covers home loans in NSW, Australia.