Mortgage Offset Failure Class Action Investigation

If you have a mortgage with an offset account, you may have been overcharged interest.

The Australian Securities and Investments Commission (ASIC) recently found that:

Home loan borrowers may be paying more interest than they should because banks are not always managing mortgage offset accounts properly.^[1]

Banks are sometimes:

1. 1. Not applying the offset account at all
   2. Not applying the offset account from the right date
   3. Not opening offset accounts.

Gordon Legal is investigating a class action investigation against banks and lenders who failed to set up, monitor and manage offset accounts, resulting in some customers missing out on promised savings.

^{[1] ASIC, Offsets, out of mind: Banks fall short on mortgage offset account promises REP 837 | July 2026}

Any bank could be making these mistakes.

To date the following banks and lenders have been identified, but as the investigation continues, or via your assistance upon registering additional lenders may be identified:

1. AMP Bank Limited
2. Australia and New Zealand Banking Group
3. Commonwealth Bank of Australia
4. Credit Union Australia Ltd
5. HSBC Bank Australia Limited
6. ING Bank (Australia) Limited
7. Macquarie Group Ltd
8. Westpac Banking Corporation

If you have a mortgage and an offset account fill out our calculator below to see if your offset account has been applied. Make sure you have your loan statement handy when filling out the form.

To register your interest in the investigation and to receive updates about the investigation and potential court proceedings, register via the form below.

Share this page with anyone you know who may be impacted and encourage them to register.

We have years of experience in class actions, helping Australia from all walks of life including Australia’s largest class action the Robodebt class action, the Banjima remediation class action and shareholder class actions in the vein of ESSSuper, and First Guardian and Shield Master Funds.