Q: In light of the Banking Royal Commissions recommendation to have the upfront commissions currently paid to mortgage brokers by lenders changed to a fee for service model over the next couple of years, can we ask:
Do people believe consumer’s would be prepared to pay an upfront free to a mortgage broker to help them obtain a suitable home loan?
What impact would such a change have on consumers?
What impact would such a change have on the home loan industry?
A: I do support mortgage brokers and have had dealings with some very professional people but there is no way I would be paying an upfront fee to a broker. Sorry