Looking for a good mortgage broker any ozbargainers have one they have used and can recommend?
I Need a Mortgage Broker
dealbreaker on 10/02/2019 - 22:10
Comments
I've used a mortgage broker called Dora thrice now. (initial loan and re-fixing)
I trust her so much that when re-fixing time comes again, I just speak on the phone, and email stuff over. Then meet one evening to sign, and done.
PM me if you want her details.
Used these guys few times if you are in QLD, though I suspect they can help where ever you are?
Are you in Melbourne? If so, my broker is excellent. PM if you want their details
How do these mortgage brokers work? The banks give them a special sweetheart deal, better deal than you can find yourself, plus they pay their hefty fees, and they do this because …? I can't work out the math.
Broker here.
Banks pay us commission on deals we bring them.
By sourcing business through me the bank does not pay their branch staff for meeting with you, or their credit analysts for packaging the deal. They also don't have the overheads associated with these staff - rent, amenities etc. I send them a well packaged file that is ready for approval.
In turn, it can be cheaper for banks to source business through the broker network that establishing their own branch distribution network.
We will generally get better pricing that you will get going direct, as we will know the max discounts available form each lender.
If you meet with a broker you will be much better informed about the home loans available in the market. A bank will only sell their product.
What are the max discounts available from each lender?
There are too many variables to give you a proper answer.
I'm happy to go through pricing with each lender I use, but will need to understand your financial position / property details / credit history.
Please feel free to PM me if you'd like to go through this info.
They get decent commissions and trailing payments etc and im sure you could negotiate a better deal with lenders directly but if you need something special like
- you may be near the limit of what you can borrow
- you have a funny loan e.g. 5 units on 2 blocks on 1 title
- you need to move fast as your current lender fell through
then a broker can do the legwork and help sort through multiple lenders to find one that will accommodate.I have used them in the past when buying a unit off the plan with pre approval and then near settlement BANKWEST changed there definition of high density and would not lend. (furious)
Used broker?