Mortgage brokers are fuming about the government's move to kill trailing commissions, warning this could cause upfront commissions to rise and put pressure on the cost of loans.

Mortgage brokers will be subjected to a "best interests" duty and the government said it will move to ban trailing commissions from July 2020, after the royal commission final report declared: "The chief value of trail commissions to the recipient, to put it bluntly, is that they are money for nothing".