Heritage Bank increases upfront mortgage broker commissions to 0.65%

By Your Mortgage
Mortgage lender Heritage Bank has this week announced an increase in upfront commissions to revise its service package for brokers, from 0.55% to 0.65% starting 1 June.
The lender also confirmed plans to hire at least four more Business Development Managers to service its mortgage broker partners.
“The mortgage broker sector is extremely competitive and we need to continually review and improve our service levels,” general manager Paul Francis said in a release.
“In 2012 we expanded our presence to go nationwide with mortgage products through our broker partners, and we now source around half of our home loans through this sector. The broker channel is vital to Heritage’s continued growth and expansion.”
So far, Heritage’s broker processing teams are based in Brisbane, Melbourne, Adelaide and Perth.

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