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Choice furore 'storm in a teacup'

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Australian Broker | 03 Aug 2011, 05:00 AM Agree 0
The furore over consumer group Choice's mortgage switching campaign is just a "storm in a teacup", it has been claimed
  • Jon | 03 Aug 2011, 11:52 AM Agree 0
    A bit naive of the promoter of the campaigne. he should know that the consumer is already winning. There is no fat in any rates any more. There is literally nothing that lenders can giveaway any more. All Gorn
  • Stuart | 03 Aug 2011, 12:07 PM Agree 0
    This seems like a great opportunity to see if ASIC are serious about policing the industry, I can't see how you can offer to negotiate a rate to switch somebody or in this case a lot of people, give them the lender you have organised, take a commission or referral fee and then claim you are not providing credit assistance.
  • peter | 03 Aug 2011, 12:31 PM Agree 0
    all I can see is a huge 10,000 client data base of consumers wanting to refinance ..Big Switch will not be able to assist the client but may ask if they would like further advice if you get my drift.. One big PR exercise and along the way Choice looses cred
  • Daniel Son | 03 Aug 2011, 12:59 PM Agree 0
    Which bank do you work for Jon? No fat in rates - you have to be kidding. The CBA as an example haven't discounted for 2 years due 'cost of funds'. Suprise, suprise as soon as NAB and then ANZ put some competition in the market CBA are throwing 0.90% discounts for loans as low as $250K. Cost of funds issue must now be resolved!Also I think their most recent profit announcement was in the billions. Poor old banks.
  • marco meloni | 03 Aug 2011, 03:40 PM Agree 0
    maybe Choice should stick with comparing washing powders and likes.
  • Vishal | 21 Feb 2012, 06:10 PM Agree 0
    What praosnel qualification and criteria do I need to register an Australia Introducing Broker Service? Some brokers tell me to get an AFSL license but I am not sure whether I am eligible to get one.
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