Blog

We have all been affected in some way by this virus, some more so than others. For those who have found themselves financially affected or out of employment we truly do feel for you. We hope that economically we rebound from this sooner rather than later as I personally can relate to the toll financial stress can have on someone.

No doubt you will have heard about the Royal Commission recommendations in the media this week. The recommendations relating to the way mortgage brokers are paid, if brought to fruition, will be terrible for competition therefore increasing the costs of borrowing for all Australians. Smaller lenders and online lenders largely rely on brokers to sell their loans and without us, they will cease to exist and drive people back to the Big 4 Banks. This is obviously a great outcome for the Big 4 Banks which has been reflected in their share price immediately after the recommendations were announced