HomeMate.com.au

Australia’s house price slump has been patchy, with Adelaide recording a gain in values, and Melbourne bringing up the rear as far as house price values are concerned. Melbourne led the nation in the drop in house prices over the past quarter. Melbourne property values did the worst in the nation, with house prices sinking [...]

Mortgage exit fees are the name given to deferred establishment fees, these fees are to offset bank costs for setting up the loan in the first place.
They have a long standing history of being charged, even though one would reason that this was the purpose of charging interest rates [to cover the cost of such work.]
By deferring the establishment fees, and letting them disappear after the loan was 5 years old, or even less, it had three effects.

Some things in mortgage lending never change. In an ongoing saga the Big Four banks have again been belted in a customer satisfaction survey that puts them well behind credit unions and building societies.

Yes, Nab has had the best rates for a while now, and that has not given them the traction they were looking for, so they have added the “no exist fees” and “we’ll pay your banks exit fees if you switch your home loan to us” to the marketing mix, in an attempt to shake up the market, and change the centre of gravity.