A non-major lender has announced an increase in its broker commissions.
Suncorp has announced a shake-up to its commission structure that will see it raise upfront commissions by 15bps to 65bps. The bank will also remove conversion hurdles.
The changes are effective for deals settled from 1 August, and Suncorp head of intermediaries Steven Degetto said the commission increases highlighted the bank's commitment to the channel.
"Increasing our commissions and simplifying our offering are initiatives we’re proud of in our bid to make doing business with us even easier, further demonstrating Suncorp Bank
’s commitment to being the genuine alternative for our broker partners,” Degetto said.