Graham Bowling is stunned - the mortgage broking industry smashed - and banks will make more money!
When you go to a mortgage broker, they hunt around for the best loan for you.
You don't pay for that service, the financial institutions pay the broker
That will all change if a Banking Royal Commission recommendation on that matter becomes law
I spoke to mortgage broker Graham Bowling on 4MK this morning
To hear his comments, press the audio button
Graham says that if this gets up, YOU, the customer will have to pay the mortgage broker - even worse, the financial institution who used to have to pay for that service - won't have to pay a cracker!
The banks win again!