On the same day the Banking Royal Commission released its report, the major banks share prices all increased. A few days later, commonwealth bank announced another record profit, with the other major banks expected to follow. The experts say the major banks are moving to block mortgage brokers helping borrowers, and this will kill competition […]
Category Archives: News
Ongoing service to my Clients
The Royal Commission recommended Mortgage Brokers should not receive ongoing trail commissions that are used to provide an ongoing service to their Clients. The Government will adopt this recommendation from 1st July 2020. Importantly, I will continue to give my Clients ongoing service into the future to make sure theirs loans are always competitive. Borrowers are using Mortgage Brokers […]
People are using Mortgage Brokers more than ever
The Royal Commission uncovered massive misconduct by the Banks. But there was no misconduct by Mortgage Brokers. In fact, in December 59% of all new home loans were by Mortgage Brokers – this is the highest market share for Mortgage Brokers ever recorded. Also, recent research has shown 95% of borrowers are either satisfied or […]