Update to RG 209 – Credit Licensing; Responsible Lending Conduct

This joint submission by Mortgage Stress Victoria, Financial Counselling Victoria, and Financial Counselling Australia highlights the urgent need for reforms to the Owners Corporation Act 2006 (Victoria). The submission addresses systemic issues contributing to financial hardship, housing insecurity, and unfair practices faced by Lot Owners. ​ Key recommendations include introducing a legislated right to hardship assistance, banning aggressive debt recovery tactics, improving manager conduct, enhancing dispute resolution mechanisms, and strengthening regulatory oversight. ​ The submission advocates for fairer, more transparent practices to protect vulnerable homeowners and promote housing stability across Victoria. ​

Submission to: ACCC