Banking royal commission: We’re the ‘fall guy’ for banks - mortgage broker

Sunraysia Home Loans director Simon Lewis.
Sunraysia Home Loans director Simon Lewis.

THERE are fears Sunraysia borrowers will face higher interest rates and a less competitive home loan market if royal commission recommendations are adopted.

Commissioner Kenneth Hayne’s final report from the Financial Services Royal Commission, made public this week, targeted the mortgage broker business model.

Mr Hayne recommended brokers be bound to act in the best interest of the borrower rather than the lender.

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