Now is the time to support your local Mortgage Broker, after the findings of the Banking Royal Commission.
The questions raised in the Banking Royal Commission Report about Mortgage Brokers were the upfront and trailing commissions paid to them by the Banks believing there is a Conflict of Interest.
No doubt the Mortgage Broking Industry are going to be facing some challenging times ahead. Policy Changes to the profession could make the Mortgage Broking Industry unsustainable.
Could the Banking Royal Commission then make the demise of the Mortgage Broker a win for the major four big lenders in the market place?
It is now important to support your local Mortgage Broker. So how can you help? First up, you can sign the petition “The Don’t Kill Competition Campaign”
Just like any business your local Mortgage Brokers need your support. They do a great service when sourcing finance deals when you are buying property. Your Mortgage Broker puts in the hard yards to find you the best finance deals available in the market place.
There needs to be continued competition in the finance sector, otherwise the Banks just continue to get richer. They already boast great profit margins.
The Mortgage & Finance Association of Australia together with it’s Industry Partners are behind the campaign “Don’t Kill Competition” .
So let’s keep competition in the market place and support your local Mortgage Broker.