Non-major ramps up commission

by Adam Smith05 Aug 2014
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.



  • by syd Broker 5/08/2014 9:01:32 AM

    It is about time. They have been milking the broker community for a long time with their conversion hurdles even penalising people for declines. obviously their volumes have dropped and they need to pick up again.

  • by John 5/08/2014 9:08:12 AM

    Headlines, "Read all about it". Suncorp are only bring commissions up to were they should be.
    Not news at all

  • by SIDBROKER 5/08/2014 9:20:15 AM

    Why lower commissions in the first place.