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Borrower

March 08: Scrapping DEFs won't help borrowers, brokers

by Staff Reporter•Monday, 17 Mar 2008•7 minute read

Criticism of lenders who charge deferred establishment fees (DEFs) for early loan repayment looks set to intensify in the wake of the latest RBA rate rise.

Federal Treasurer Wayne Swan has urged borrowers to “vote with their feet” if they are unhappy with their banks, promising action to improve competition by making it easier to switch lenders.

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