Sign The Petition:
The Equity Game Petition to stop any changes remuneration for Mortgage Brokers
We the undersigned call upon the House and Government of the Commonwealth of Australia and the Opposition not to change the current remuneration model within the Mortgage Broking Industry which will unfairly discriminate against thousands of brokers and millions of Australian Property Owners who rely on Mortgage Brokers when financing their loan.
Mortgage Brokers help families and investors finance their purchase by:
- Providing expert knowledge on multiple mortgage products.
- Providing an efficient market mechanism for matching risk profiles of borrowers and lenders.
- Competing with the Big 4 Banks for better consumer outcomes.
- Allowing every day families to access veteran lenders.
The proposed remuneration changes will disproportionately affect lower income families in their pursuit of The Australian Dream by:
- Introducing mandatory fees on new loans.
- Preventing access to expert knowledge, a suitable loan product, and the years of experience that brokers provide.
- Removing competitive forces by introducing mandatory fees for switching to a more suitable lender.
- Removing incentives for brokers to build long term relationships with their clients.
We completely reject the assertion by Commissioner Hayne "that the remuneration arrangements have no credible rationale based on consumer interests".
Once we reach the goal of 20,000 signatures we will send this petition to Prime Minister Scott Morrison; Treasurer and Deputy Liberal Leader the Hon Josh Frydenberg MP; the Minister of Finance and the Public Service Senator the Hon Mathias Cormann; Shadow Treasurer Hon Chris Bowen and Labor's Shadow Minister for Finance Dr Jim Chalmers MP.
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For more information you can email us at or call on 0413 281 288.