Borrower seeks Mortgage Choice compensation
Mortgage Choice says only one former customer has claimed compensation since it was pulled up by ASIC for misleading advertising. Last month, ASIC decreed that Mortgage Choice not use the word “unbiased” in its ads and make clear it only offers products from 27 lenders, which pay the broker commissions. Mortgage Choice placed ads in national newspapers telling customers they were entitled to compensation if they believed they could have found loans cheaper than those it offered. The one response is being assessed independently to determine if the claim is legitimate.