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Federal government to cut mortgage exit fees

Staff Reporter 1 minute read

Making headlines today, The Australian Financial Review has reported that the federal government is set to slash mortgage exit fees.

The move is expected to increase competition in the mortgage arena and make changing mortgage providers less expensive.

The federal government is also apparently considering making account numbers portable.

Meanwhile, The Sydney Morning Herald has reported that Suncorp is set to make a comeback in NSW.

According to the paper, Suncorp is hoping to exploit consumers’ unhappiness with the majors’ grip on the industry.

The bank is looking to build its base in NSW and open 31 extra branches over the next 3 years.

Federal government to cut mortgage exit fees
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