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The Big Bank Switch switching campaign would be laughable if it wasn't putting people's property on the line, AFG's Mark Hewitt has said.
Following the naming of the four non-bank lenders One Big Switch has brought onboard in the now much publicized Big Bank Switch switching campaign, the mortgage broker's GM for sales and marketing has questioned its "sweeping pronouncements" about financial advice in Australia being 'crap' - especially when it is not prepared to provide financial advice itself.
"The disclaimers on the emails that they're sending out makes it clear that their so-called 'members' are on their own when it comes to deciding whether or not a mortgage deal is right for them," he said.
In addition, he said existing mortgage brokers already provided a one-stop-shop service to their customers - with access to a panel of over 800 products.
"Instead of keeping consumers on tenterhooks, it's time One Big Switch came out and said who is on their lending panel Australia wide."
Hewitt also said the problem for consumers with the campaign is that it has failed to attract any major lenders to its panel.
Brokers will not lose out in One Big Switch deal says MEZY chief - Mortgage EZY has always dealt with brokers and it always will, CEO Garry Driscoll has confirmed, as he dismissed concerns that the Big Bank Switch switching campaign would result in widespread broker client loses.
Kathy Cummings: Channel conflict eliminated - Commonwealth Bank has a very clear and well understood channel parity policy that has virtually eliminated channel conflict, Kathy Cummings has claimed.
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