Competition prompts commission increase

by Caroline Dann17 Sep 2012

Macquarie’s recent increase to its broker commission rates was prompted by intensified competition between lenders. 

 
The second-tier announced two weeks ago it was lifting upfront commission from 0.6% to 0.65%, while flat-trailing commission would increase to 0.2%.
 
James Casey, head of mortgage product at Macquarie told Australian Broker Online maintaining a competitive edge was crucial in the broker market.
 
“It is of the upmost importance to us and we believe that our proposition offers appropriate value for the service provided by brokers.
 
“Brokers are our primary distribution channel and we value the relationships we have built with them,” he said.

COMMENTS

  • by Terry 17/09/2012 10:50:38 AM

    A step in the right direction but still a aways to go to get back to where we should be. Well done Macquarie.

  • by Positive Broker 17/09/2012 3:18:15 PM

    Lets hope this is the thin edge of the wedge. This is not from a lets make more income perspective but simply to encourage a "viable" broking industry advocating for time poor norrowers.