Banks' penalties for mortgage brokers come under scrutiny

The Competition Authority has said that it has taken note of the banks' practice of penalising mortgage brokers if a customer switches a mortgage in the first three years of taking out a loan.

26th March, 2005

The Competition Authority has said that it has taken note of the banks' practice of penalising mortgage brokers if a customer switches a mortgage in the first three years of taking out a loan.

The regulator has taken a growing interest in the area, and plans to seek more information on the payment practices.

“We could not comment on whether we would investigate it on the cartel side, but we would be very interested in...

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