A non-major bank has announced an increase to up-front commissions it pays brokers
ME Bank has announced it is increasing up-front commission to brokers from 0.60% to 0.65% (ex. GST) of the home loan amount settled.
The increase will apply to all settlements that occur on or after 1 July 2015, so brokers with applications currently in the pipeline may be eligible.
It will also apply to top-ups of $50,000 and over.
ME Bank says they will continue to maintain a commission structure commensurate with their growth plans, recognising the vital role brokers play in the promotion and distribution of their home loan products.
