Big news today for Australian borrowers… the Labor Party backed down from supporting the ‘consumer pays’ model for getting a home loan. They have now proposed a ‘bank pays’ model (bank pays the mortgage broker), with a standardised/capped payment of 1.1% of the loan value (only on the amount drawn down by the borrower, […]
Labor backflip on ‘consumer pays’ model for home loans
Without competition… consumers lose.
Are there any industries, anywhere in the world, where this is not the case? The recommendations from the Royal Commission mean all Australian borrowers are now at risk. Watch below to find out why. There were some recommendations from the Royal Commission that we do support, for example the recommendation that mortgage brokers must act […]