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Clawbacks have been an industry bugbear ever since they were brought in, but the issue has been escalating recently as the sums of money on offer hit new highs amid a refinancing boom. Kate Aubrey explores the clawback issue
The year 2022 was full of new records. Record levels of home buying activity started the year off amid record-low interest rates were keeping brokers busy at the beginning of the year. Broker market share hit a new record, surpassing 70 per cent for the first time, according to the Mortgage and Finance Association of Australia (MFAA). And record-high cashback offers flooded the market, with some lenders offering up to $10,000 to borrowers.
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