If the full Royal Commission recommendations are implemented then trailing income will cease on all loans written after July 2020.  But any loans written before this date will keep the trail.  As we rebate these commissions to you it may well be in your best interest to sort your loans out before July 2020. As I can’t see the banks & Lenders reducing the rates by the amount that they pay in trailing commissions.  Upfront payments by the lenders will continue to exist for at least a couple of years past this point so the industry can transition. However it looks like upfront commission may stay as the Labour Party is looking to support them. As they realize that without brokers the competition in lending  market will dry up and smaller lenders will died out.  Ultimately pushing more business back to the big 4. This will likely increase the rates that you the consumer pay.  We will continue to watch and keep you updated. 

I want to update everyone and let you know we are working on a simpler, easier platform for less complex loan structures and services.  These will be fee for service and each service will have a fixed cost.  Mortgage Advice will still continue on as is. As complex loans are hard to set a flat fee for and it will take us time to work out a model that works as a sustainable business model and for you,  our consumers.  This platform will run on a separate website to Mortgage Advice.
We plan to launch the first Flat Fee service  by the 11th of March and will slowly add additional services every month or so as we bed in each process.  Most of these services will be complementary to Mortgage Advice as well. So they can be offered by both platforms.  

Thanks for reading and let me know if you have any questions

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