Brief: ANZ under fire over asset finance restriction
Commercial finance brokers are unhappy with ANZ’s decision to only accept asset finance applications from brokers if the applicant is already an ANZ customer able to make repayments from an ANZ transaction account. The bank’s new policy will take effect on December 1. The Adviser quoted the chief executive of the Commercial & Asset Finance Brokers Association, David Gill, saying: “These changes make it difficult for brokers to introduce deals for them. It really goes against what the role of the broker is.”