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TMM - News

Westpac scraps trail commissions on mortgages

Thursday 16th of October 2025

Key Points

  • Westpac axes trail commissions
  • Increases upfront commissions to 90 basis points
  • Financial Advice NZ criticises move
  • Westpac refuses interview on changes
From 1 June advisers will receive a commission of 0.90% on the value of new loans. This will replace the existing 0.60% commission and trail of 0.20%.

The upfront commission only payment will apply to new loans settlements from June 1.

Before June, a 0.30% top-up payment will apply to new loans settled up until 31 May, bringing total upfront commission to 0.90% during the transition period.

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