What does the Royal Commission mean for Mortgage Advice?

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For the next 12-18 months it looks to be business as usual. As banks will continue to pay commissions for this period with a reasonable amount of certainty.  More importantly it looks like existing client loans will continue to have trail paid.  The changes will effect new loans written after the potential implementation date (proposed in July 2020).  The good news is for our current clients loans, we will keep with our current model.  So once we have been paid our Fee For Service we will continue to pass on the trail. This will also be the case for new clients between now and the implementation date. 

Post the implementation date is much harder to predict as we are unclear at this stage what the legislators and then the banks/lenders do.  We may need to change our model a little,  but then we might not.   I can promise that I will continue to keep you up to date and to continue to innovate.  Remember we have been fee for service for many years.  But we have ideas to research and model as we move towards the uncertainty of the future.  We expect this will keep us out in front.  I believe we may launch the first of these services by June. 

Let me know if you have any questions as we are always happy to help. 

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