Mortgage Choice (MOC) Time to buy ?, page-213

Labor is committing to doubling upfront commissions while removing trailing commission now. 

"It will announce the lender will pay an upfront fee which is 1.1 per cent of the loan. However, the 1.1 per cent will be confined to the draw down amount, or proportion of the loan needed buy a house. Mortgage brokers sometimes encourage people to borrow more than they need so they can, for example, buy a new car as well. This ensures the broker gets a bigger fee.

The 1.1 per cent is twice the 0.54 per cent currently charged for an upfront fee and compensates up for the abolition of trail commissions, another Hayne recommendation which both sides support."