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While mortgage broker commissions and ‘fee for service’ models are attracting increasing attention, mortgage broker Mortgage Choice has reaffirmed its commitment to its ‘paid the same’ commission rate policy.
According to the brokerage’s CEO Michael Russell, the company’s commission rate policy ensures its brokers are not swayed by lenders with greater commission payments.
“Varying commissions paid to financial services providers can encourage bias. Our franchise owners’ dedication to being ‘paid the same’ for sourcing home loans for Australian borrowers is indelibly stamped into the way we do business,” Mr Russell said.
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Mr Russell said the company’s policy would not change despite a push by other brokerages to move to alternative models.
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