ASIC has told Mortgage Choice to apologise fro using the term “unbiased”.
http://www.theage.com.au/articles/2004/05/26/1085461833045.html#
Cheers
Stu
as another ex-i’ll save ya, 17 may have been on the panel, but do you really count Bank of Melbourne, Challenge Bank and Westpac as 3!!!! Last time i looked all three had the same head office..he he he
cheers
brahms
If you don’t ask, the answer is no!!
I’ve just got an ex MC client who said it took them 2 months to tell them they couldn’t even get an approval in principle.
No wonder brokers get a bad name, I see this all the time.[grrr]
Liz
Mortgage Lender
They’re not really “screwed”. This will get lost in all the marketing collateral. The removal of the word “unbiased” will matter little unless you are comparing one ad to the other.
The advisor will still use the spiel in words to explain that really nothing has changed blah blah blah in the event someone asks.
Sounds like you’re a wee bit un-unbiased there Rob.. 20 large, huh?
Mind you, I had a good laugh when I read the article too – I’ve had a few of their ex-clients with stories to tell, and problems to fix..
theloanarranger
I investigated a MC franchise because I was impressed with their bold statement that they were ‘unbiased’. Their franchise docs are covered in it.
I’m afraid ,as I found out more about the company, I could see the opportunity for them to be quite unbiased if the will was there, so I lost interest, gut feeling that something wasn’t right…
On their web site, they don’t even mention any of it, wonder if that will be forced on them.
They’ve advertised alot in my local newspaper, so I wonder if they have to advertise in the same way…
…glad I didn’t invest, phew, I wouldn’t like to be in their shoes … give a dog a bad name …
Well I’ve always had good prompt service and the rates have been competitive as I’ve always checked before signing anything.
Still, 27 lenders is more than I would ever have rung, so I feel it still gives me enough choice.
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