Macquarie decision means less choice for brokers

exit open door

Reacting to the news of Macquarie's decision to cease cashflow lending to brokers with immediate effect, Mr Cooper said: "I am a little surprised because my understanding was that they had a good market position in an area where they were filling a gap. It is a shame for the broker market to lose that choice."

He agreed that the decision would lead to less choice for brokers.

"They [Macquarie] were providing a service that others weren't keen to provide so I think that [their withdrawal] is a

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