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 in the ‘best interests’ of the borrower. This will improve consumer outcomes and increase professionalism within the industry. (most brokers are already doing this though)
Remember, the recommendations from the Royal Commission are just that at the moment – recommendations. There will be no changes until the recommendations actually get legislated, and it is unknown at this stage how far the legislation will actually go.
The prime minister has voiced his support for the broker channel and outlined the important role brokers play in the market – keeping competition alive. [1]
It’s very much ‘business as usual’ for as at the moment at Long Property. Hopefully common sense prevails and Australian consumers won’t be disadvantaged.
#royalcommission #mortgagebrokers #keepcompetitionalive
References:
[1] Prime minister backs broker channel, The Adviser – 11 Feb 2019
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