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Super fund launches mortgage broking service
QSuper's financial planning arm QInvest has launched a mortgage broking service for QSuper members which offers a refund on 50 per cent of the participating lending institutions' ongoing commissions.
A new team of salaried mortgage brokers will work separately from its financial planners with 50 per cent of the value of commissions going into running the business.
It said the move would enable the fund's members to get a better deal on their home loans through QInvest's new team of mortgage brokers.
QSuper chief executive Rosemary Vilgan said it was possible some members could retain their current mortgage provider.
"We are delighted to be able to offer our members access to hundreds of mortgage products and the opportunity to get a great deal on new or refinanced home loans," said Vilgan.
She said the fund wanted to provide certainty around members' financial goals, with securing a house being just one of those.
Chief officer of advice and QInvest Steve Cullen said its aim was to help members pay off their mortgages sooner.
He said members would save through access to better deals and the 50 per cent refund on the lending institutions' commissions, which could be applied to the mortgage or put into an offset account.
"Members can choose how to use funds from the offset account; they could put more into
their super, or boost their savings," said Cullen.
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