Mortgage loan customers might need to spend home loans to truly save cash

Mortgage loan customers might need to spend home loans to truly save cash

Borrowers might have to spend an fee that is upfront their house loan is arranged, in a move applauded by customer advocates but which lenders state would devastate their industry.

The fee that is new perhaps one of the most contentious modifications suggested by the last report associated with Hayne royal payment, would destroy down one of several key practices agents are compensated — an arrangement commissioner Kenneth Hayne rubbished as “money for nothing”.

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