The Federal Gov't is introducing a ban on mortgage exit fees. This move will hurt small non-bank lenders. It will reduce competition and choice for consumers.
Australia
Joined June 2011
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Home borrowers have the best deal when non-bank lenders are creating mortgage competition.Banning exit fees is bad for competition.#ExitFees
When non-bank lenders have large market share, Aussies pay lower interest rates on their mortgages. #ExitFees
Aussie mortgage margins fell from 4% to 1.8% when non-bank lenders had high market share in 2003. #ExitFees
Aussie non-bank lenders keep the mortgage market competitive – so why does the govt hobble them? #ExitFees
Aussie Home Loans founder John Symond says the ban on #ExitFees will hurt small lenders more - http://tiny.cc/omooa #MortgageBrokerAU
The Federal Government’s decision to ban #ExitFees will have severe effect on consumer competition http://tiny.cc/37bn8 #MortgageBrokerAU
Banning #ExitFees will make it harder for the smaller lenders to compete. #MortgageBrokerAU - http://tiny.cc/58qyj
Mortgage brokers and non-bank lenders warn without #ExitFees, interest rates will rise in order to remain competitive - http://tiny.cc/loicx
Small lenders concerned about ban on mortgage #ExitFees,this ban greatly affects competition in the mortgage industry http://tiny.cc/hdzp0
Ban on #ExitFees will smash non-bank lenders, according to survey - http://tiny.cc/66m22
Banning #ExitFees in Aussie mortgages weakens the non-bank market position, meaning home borrowers have less choice.
Home borrowers have the best deal when non-bank lenders are creating mortgage competition. Banning #ExitFees is bad for competition.
The graph shows that when non-bank lenders have large market share, Aussies pay lower interest rates on their mortgages. http://dld.bz/adchY
#ExitFees Aussie mortgage margins fell from 4% to 1.8% when non-bank lenders had high market share in 2003.
#ExitFees Aussie mortgage rates are at their highest when non-bank lenders have little market share.
#ExitFees Aussie non-bank lenders keep the mortgage market competitive – so why does the govt hobble them?