Mortgage Brokers Financial Advice

Discussion in 'Loans & Mortgage Brokers' started by Martinez22, 28th Sep, 2021.

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  1. Martinez22

    Martinez22 Well-Known Member

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    Do mortgage brokers have the ability to provide financial advice in relation to debt reduction strategies?

    Can this be included in the Credit Proposal document? or do you need to hold financial planning qualifications in order to provide this type of advice?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Financial advice is advice in relation to financial products. Brokers would need an afsl for this.
    They have a credit licence and can give credit advice.
    Debt reduction could be neither
     
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