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Rather than snuff out competition the exit fees ban will promote innovation, a leading wholesale funder has claimed.
Brett Halliwell, general manager of lending distribution at Advantedge said the legislative changes had done little to dispel the market's optimism - a good omen for the future.
And pouncing on the prevailing goodwill sentiment, Halliwell said Advantedge is considering innovative product restructures.
"We hope to roll out our reinvigorated products within the next few months," he told The Adviser.
He said refreshed products would ensure mortgage managers remained competitive in this "heavily legislated" environment.
Aussie John goes Swan hunting - Calling the banning of exit fees an accident waiting to happen, Aussie executive chairman John Symond has launched a scathing attack on Treasurer Wayne Swan.
Going, going, GONE - exit fee ban passed into law - You knew it would happen, I did, and surely the industry did too - and yesterday the federal government's proposed blanket ban on exit fees was passed into law.
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