10 Oct 2017

Real estate agents allegedly in bed with mortgage brokers

From Morning Report, 7:42 am on 10 October 2017

A report by Consumer New Zealand shows financial ties between real estate agents and mortgage brokers could mean home buyers are being duped. The report shows some real estate agents are offering clients a mortgage broker who is from within their own company and earning a commission for it without the consumer's knowledge. The report also suggests some real estate agents are pressuring mortgage brokers to get information on how much a home buyer can afford to pay for a property. Head researcher at Consumer New Zealand Jessica Wilson wrote the report and joins us now to explain the details.