Hi guys,
I am hoping to find a cashback broker who deals with Bank of Sydney
Looks like BOS has a pretty good deal going on at the moment
Looking for Cash Back Home Loan Broker Who Can Deal with Bank of Sydney
PT8483 on 17/05/2018 - 18:34
Last edited 17/05/2018 - 18:47 by 1 other user
Last edited 17/05/2018 - 18:47 by 1 other user
Comments
Thanks, I think they trying to clear backlogs. Told they can't reply until June..
I had a chat with Naritas. In summary, if your settlement is sub 60 days look elsewhere. If refinancing you will be put on low priority. Looking at their numbers, they have $895 in establishment fees, so other lenders at 3.65 with lower fees might be a goer. I considered Virgin at 3.64 with 160k velocity points as a bonus..BUT, all reviews seem to suggest Virgin are hopeless.
You're right… I have a conditional approval in progress with them but no response for a week. Just looked at their site and looks like they have a huge back log.
Not even sure if the forms have even been submitted, so I might look elsewhere! Let me know if you find any good options.
No trailing commission options?
What’s the deal with BOS pls
I believe the OP is referring to the Owner Occupied deal at 3.58% (70%LVR) or (80%LVR with an Annual Fee), 100% offset, currently waiving Legal & Valuation fees also.
I have never seen the logic in cashback brokers ..
I think they are the equivalent of '34% off your electricity bill!' kinda companies.
'Congrats you get cashback! On a rate that's higher than others even after cashback… But you get cashback!!'
Yes, I was referring to Owner Occupied deal 3.58%. Which is a good deal. But I can't seem to find anyone who deals with BOS in the first place (Other than Naritas) + giving cash back on trailing commission
I deal with BOS, but Im not a cashback broker .. that's why I didnt offer to respond.
How would you take a Job Advertisement that said:- work with me for the next 6weeks (average settlement period), then be my liaison between the Lender for the life of the loan. Project fee is $2000 plus $50per month thereafter give or take, but you need to give me back $1000 for introducing you to the job! or you need to give me back that trailing commission … Oh and by the way, if I decide to change lenders within 24months, and they take your commissions back, tough luck! .. just sayin' ;P
how does clawback works ?
I really don't care TBH. Im just here so I can get the best mortgage deal for myself. As for your qualm, why dont you ask Narita how they do it?
Brutal and honest. I like it.
I think you've mistaken. I dont have a qualm, I'm just explaining to you why you may be having difficulties finding a broker, since you claim you cant find anyone that deals with BOS.
Narita & I operate on different business model, that's why I didnt make any attempts to solicit your business or business from anyone. I have referral agreements that pay more than Naritas rebate, but that is for the right type of clients. There is no point in getting an influx of clients that end up having to wait 2 months for a return call. So client profile as well as client service is important to me.
Perhaps read up on how Refund Home Loans went under with 20M+ in unpaid debts, during a time when clawbacks wasnt even an issue .. It's just not a business model I wish to pursue.
P.S. the best mortgage deal isn't necessarily the deal that cashback/trailing commission return brokers offer. As others who have used these services indicated, they direct you to certain products (perhaps the ones that pay highest in commissions or trails) in order to get the maximum cashback/trail. If you choose other products, which they will allow, you dont get the maximum advertised rebate.
Try Mates Rates Mortage Brokers. I found them very good to deal with.
I am also looking for a broker who would offer trailing commission if I refinance with them on Bank of Sydney.
Naritas