Alternative forms of remuneration
To ensure our brokers offer a suitable home loan solution from our lender panel, Mortgage Choice has a policy that discourages the payment of excessive non-financial incentives or alternate forms of remuneration.
As a result, Mortgage Choice consultants, management and directors are required by Mortgage Choice to comply with the following policy:
- Any form of alternative remuneration over $500 in value, per transaction or item must be disclosed to Mortgage Choice. This provision applies to value passing from a third party to the franchise owner, his or her spouse, family members or staff.
- Alternative forms of remuneration less than $500 in value for any single item do not require disclosure to Mortgage Choice.
- Items as referred to in 1 above, as disclosed to Mortgage Choice by the Mortgage Choice consultant or staff member, are recorded in a central register on the Mortgage Choice website. They are available for inspection by members of the public. Members of the lender panel and other third parties are also requested to advise of such payments.
Examples of alternative forms of remuneration covered by this policy are entertainment, conferences, sports event tickets, travel, accommodation, computer hardware, marketing assistance, office rental subsidies, business software tools, gifts, etc.