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.