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Non-bank says no to clawbacks

by Staff Reporter10 minute read
The Adviser

Staff Reporter

Highlighting its commitment to the third party channel, Mortgage EZY has announced it will not introduce broker clawbacks to compensate for the removal of DEFs.

Earlier this week, both Advantedge and Homeloans said they would claw back 50 per cent of the broker’s upfront commission for loans that discharge before 18 months.

But Mortgage EZY’s executive chairman and founder said the lender would avoid imposing clawbacks in a bid to further support its broker partners.


“At a time when most lenders are indicating that they will impose a commission grab post 1 July, we have and will remain a true ally to brokers,” he said.

“Mortgage Ezy loans are only available to a select panel of aggregators, and now with zero deferred establishment fees and no clawback they provide a very real and compelling choice for brokers.

“Banks have been given a huge free kick by the government already this year and even though Mortgage Ezy has been one of the few to increase volumes the banks continue to eat up market share relatively unchecked since the GFC. It’s time we hit back, striking a fairer deal for our borrowers and brokers alike.”

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