A lankmark 600 page report to be released one week before the royal commission into the finance sector has provided some damning findings. Among others, it found that "in return for their loyalty, customers have been ripe for exploitation" with one in two people still with their first ever bank and only one in three considering a refinance despite paying 0.40% more than new customers to the same bank!
What does the report say?
A link to the full report is below, but to save you time, we've outlined some of the findings below:
Where to from here?
The longer you delay, the more you lose. Get in touch for a free property report, or give us a call for a complementary home loan review.
Copy of the report here: http://www.pc.gov.au/inquiries/current/financial-system/draft