Get Results: Government Review of Mortgage Fees
April 22nd, 2008The Australia Federal Government commissioned investigation into mortgage fees. In their mortgage fee review results, it was discovered that the largest lending institutions charge the biggest fees.
To most consumers it’s not exactly clear what the entry and exit fees are, but currently the average mortgage is refinanced every three years and paying attention to these fees can save a lot of money. So will this review create competition for better consumer options? Well already some banks are offering mortgage products free of exit fees.
Will we get more of these results as these fees are disclosed to consumers?
For more on this see:
Government releases mortgage fees review
Penalised for mortgage loyalty
HSBC lifts mortgage fees for limited period
Mortgage fee review will boost competition: Govt
