Monthly Archives: April 2011

Exit fee ban could force up rates

According to the Advisor, the ABC has reported that the Federal Government’s plans to abolish exit fees could have an adverse impact on first home buyers. While the Government is hopeful its blanket ban on exit fees will encourage consumers to switch loans and get a better deal, Treasury documents obtained by the ABC, show […]

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Banks ‘drag feet’ on discharges

In an article by Adam Smith from Australian Broker News he states that the Finance Brokers Association of Australia’s president Peter White has accused banks of dragging their feet in discharging loans. White told Australian Broker News that even following the 1st July ban on exit fees, banks will make it difficult for borrowers to […]

Brokers prove popular with borrowers

In an article by the Advisor the popularity of mortgage brokers has grown significantly in the last three years, according to the latest MFAA/Bankwest Home Finance index. The index found the overall proportion of consumers understanding the benefits of using a broker is now at its highest level, sitting at 35.7 per cent- considerably higher […]

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Financial Ombudsman Service compares lenders’dispute performance

In an article recently from Brokernews it states that the Financial Ombudsman Service (FOS) has released its annual review, showing how lenders performed in terms of disputes brought to the service. As part of the new ASIC regulations, the FOS has published comparative tables showing the dispute performance of major financial service providers for the […]