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July 08: ANZ restructures broker commissions

by Staff Reporter7 minute read
The Adviser

ANZ is the last of the major banks to revise broker commissions, with upfronts to be cut from 0.70 to 0.50 per cent from November 1.

But brokers can still maintain the current 0.70 per cent commission rate should they achieve sales volumes targets, conversion rates, on-line submission requirements and write larger loans.

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