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The Commonwealth Bank of Australia (CBA) has sent out a note giving ‘inactive’ brokers two weeks’ notice for the revocation of their accreditation.

Brokers were deemed inactive if they had not written a CBA home loan in the past year or if they had only written a single mortgage. The letter provided recipients with 14 days’ notice, starting from the date the letter was sent, in which the bank would revoke the broker’s authority to act. By freezing loan applications, new loans cannot be written by brokers about to lose their accreditation so that customer would not face issues.

This is one of the many changes that are likely to be introduced by banks and other lenders. This move by the CBA will weed out the brokers who act in their own interest leaving behind only the crème de la crème of the brokers. Only experienced brokers offering diversified financial advice will make it in the long run.

So, if you are in the market for a mortgage do your homework and approach a broker with a good professional network and reputation. Contact Madhu on 0425 341 086 or at to avail a wide range of financial services from her experienced and award winning team.