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ING Australia (ING) has revealed that for new loans settling from 1 August 2026, clawbacks will no longer apply when a loan is discharged following the sale of the secured property between 12 and 18 months after settlement.
The policy change addresses a longstanding grievance among mortgage brokers, who have routinely faced financial penalties when clients sell their homes shortly after settlement – a scenario widely acknowledged as being outside a broker’s control.
The move forms part of a broader refresh of broker remuneration policies aimed at building stronger relationships with brokers, which also includes introducing a single upfront commission rate across all loans (71.5 basis points) and increasing the loan cap for upfront commissions to $5 million.
ING’s national sales manager – broker Sergio Delvescovo emphasised that the decision reflects feedback from the industry and a recognition that personal circumstances can change unexpectedly post-purchase.
“Customers may need to sell a property for a range of reasons, including relocation, changes in family circumstances or other significant life events. In these situations, brokers have often done everything right, yet may still be subject to clawbacks,” Delvescovo said.
“We believe our change is a more balanced approach that doesn’t punish brokers for decisions beyond their control.”
FBAA welcomes decision but calls for broader scope
The Finance Brokers Association of Australia (FBAA) has commended the lender for taking a positive step forward, with FBAA CEO Leo Gagic describing the announcement as a major move that sets an example for the broader lending market.
However, Gagic noted that the association will continue advocating complete clawback protection, urging lenders to extend such waivers to cover the initial 12-month window as well.
“ING’s new policy is a major move that should be followed by all lenders,” Gagic said and added that “brokers shouldn’t be penalised at all for reasons beyond their control.”
Gagic also lauded the bank’s ongoing commitment to channel parity, ensuring direct-to-consumer loan products are not offered at lower rates than those available through the broker channel – a measure that supports fair competition and protects consumer choice.
The policy announcement follows the FBAA’s recent submission to the Australian Treasury’s consultation paper on unfair trading practices affecting small businesses.
As reported by The Adviser, the submission highlighted several systemic issues confronting brokers, including clawback mechanics, net-of-offset calculations, channel conflict, and referrer arrangements.
Given that the broking sector consists primarily of small-business operators whose financial viability relies heavily on credit provider terms, Gagic stressed the importance of continued collaboration across the industry.
“We understand that these can be complex issues, but I believe there is room for our industry to discuss these further with lenders,” Gagic said.
“Every step forward that makes it fairer for brokers is a good step, and if other lenders do what ING has done, it’s a positive start.”
[Related: How the budget is changing the conversation around broker businesses]
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