MFAA survey reveals borrowers don't care abot Exit Fee's....

A new survey of 1,000 homeowners conducted by the group has shown that exit fees are not a significant factor in consumers' choice of home loans. The research indicated consumers are most concerned with interest rates, with 50.2% saying rates were the most important factor in their choice of product. Fees and charges were ranked second by respondents, with 15.5% tipping them as a factor in their decision.

However, exit fees ranked last in the survey, with only 1.7% of respondents claiming they were a concern. The existence of DEFs fell behind LVR and brand in its importance to consumers.