Mortgage brokers will get flat commissions when they recommend mortgages if Labor wins the next election.
Shadow treasurer Chris Bowen said Labor's policy would deal with the issues the banking royal commission identified, but would not destroy the mortgage broking industry.
"No longer would a mortgage broker be able to recommend a product based on a higher or lower commission for them, because the commissions would all be the same," Mr Bowen told reporters in Sydney on Friday.
