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.