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Rabobank to charge for mortgage advice after all

Thursday 14 February 2013

Rabobank has given way to pressure from the financial services authority AFM and will now charge customers for mortgage advice, even if they don’t buy a product.

Since the beginning of this year, mortgage providers have been banned from charging commission. Instead they are allowed to charge clients a fee. Rabobank said it would only charge clients who actually bought its products.

The AFM then intervened, saying financial services must always charge for advice, regardless of whether or not the customer takes out a mortgage.

Rabobank, the Dutch market leader, has now fallen into line and will implement a similar fee structure to other banks from June 30.

© DutchNews.nl


Readers' Comments

What kind of cloggy logic is this? It's akin to going into a bar to check it out, NOT order a pint, leave and have to pay the barman for the pleasure!

Dutch logic at its finest!

By A Consumer | 14 February 2013 12:23 PM

I thought they wanted to sell more houses...doing this makes people think twice about asking for information. Which means they will sell fewer houses. I have yet to figure out what dutch banks do. I had a account with Rabobank and they offered me nothing without a fee. Fee for this fee for that..You pay a monthly FEE for your account. In the USA I had no fees for my account NOTHING!!!! Everything was included and they treated me like a Queen. I bank with my bank in the states now even though I live here. I pay less!!!! Looser stupid Dutch banks...Charge for advice...hahahah I will never pay for advice..

By Destiny | 14 February 2013 12:45 PM

This is as worst as robbing! The bank should not charge for providing advice to customer on mortgages. Without people's money, the bank will already collapsed. Next time, I will charge my customer who ask for my engineering advice although they didn't actually contract me to help them. I shall see how they react. Financial world is run by mafia and liars.

By enough! | 14 February 2013 12:54 PM

and regardless of whether the advice is honest, accurate, conflicting etc etc.

By Dr Ponzi | 14 February 2013 1:29 PM

AFM is pushing the banks to try to catch flies with vinegar.

By George | 15 February 2013 12:18 PM

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