Originator to give brokers flexibility on how commissions are paid

Staff Reporter Tuesday, 19 May 2009 1 minute read

National Finance Club has relaunched its product suite and introduced a remuneration structure that offers brokers a choice of commissions.

The new commission structure, released to brokers last week, gives the option of 1 per cent up-front commission and 0.05 per cent trail or 0.70 per cent upfront and 0.15 per cent trail.

The originator has also launched a pro pack rate of 5.08 per cent and a one year 2.99 per cent fixed rate offer.

Andrew Clouston, managing director of National Finance Club, said the new range placed the group at the “very pointy end” in terms of the pricing and commission structures compared to other lenders.

“Combine this with sub-five day turnarounds on files and this non bank lender is a seriously viable alternative to the major banks,” he said.

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