Ok, that makes sense.
Essentially the reason ANZ wound down One Direct too. (One Direct only services existing customers now, and won't loan money to new customers). With less competition in the marketplace there was little benefit in keeping the generic on line channel operating. (In fact, One Direct became detrimental to ANZ's core operation).
Good mortgage brokers - ie. those who offer advice on correct loan structure, strategy with investments etc are worth their weight in gold. Unfortunately, as in any business, there are less scupulous operators who set loans up to best suit their own finances rather than their client's.
No doubt, this practice would occur in dealing direct with banks too. Finding a knowledgeable, reptuable and honest mortgage consultant within a bank is not an easy task!
Regards Jason.
