Home Loan Broker Rebate up to 0.4% E.g. $4,000 Per $1M Loan Size @ Bundle Property

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AssociatedLen -Bundle Loans on 21/08/2020 - 17:45 bundleproperty.com.au (176 clicks)
Last edited 21/08/2020 - 18:20 by 1 other user

For Ozbargain customers only for a limited time:

We are pleased to announce we have increased our broker rebate up to 0.4% of loan size (net of offset ie balance owing) for new loans above $1m from today.
Also we can now offer 0.2% for smaller loans above $200k.
All other loan sizes in between are 0.3%.

For example:
$200k+ x 0.2% = $400 Broker cash rebate
$300k+ x 0.3% = $900 Broker cash rebate
$500k+ x 0.3% = $1,500 Broker cash rebate
$1m + x 0.4% = $4,000 Broker cash rebate
$1.5m+ = contact us

This is in addition to bank rebates of $3,000 per property including big 4 banks, discounts of up to 2.05%, $1 LMI for first home buyers and $2,000 purchase rebates.
Paid 50/50 at 2 and 24 months after settlement.

Please contact us for details of these rates/offers.

Let me know if we can help.

Len
Bundle Property Home Loans
T: (02) 9698 7186
M: 0422354868
E: [email protected]
ACL 445947

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  knobbs on 21/08/2020 - 17:50

  We are pleased to announce we have increased our broker rebate up to 0.4% of loan size

  It was already .4% 1.5 months ago? https://www.ozbargain.com.au/node/545260

  • 

    AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 21/08/2020 - 21:52

    +1

    we are also offering now for loans under $250k

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  vchoy on 21/08/2020 - 17:52

  what are the banks appetite writing up new home loans?

  • 

    AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 21/08/2020 - 21:55

    They are fine but wary of certain occupations eg airline, hospitality etc.

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  soan papdi on 21/08/2020 - 18:20

  Genuinely confused here, how do brokers fund these? From the trailing commission? Does the bank pay a commission to the broker?

  • 

    luke700 on 21/08/2020 - 18:27

    broker funds it.
    Banks pay an average commission of 0.6% sign up + 0.2% trail

  • 

    AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 21/08/2020 - 21:54

    Yes correct, banks pay brokers a 0.6% upfront commission and we share up to 0.4% with the customer

• 

  SmiTTy on 21/08/2020 - 19:47

  +10

  Word of warning
  This broker is slow to respond, often doesn't respond even after 4 or 5 follow ups. You'll need to pickup the phone every time u have a question or know the status.

  I had an application thru them previously which never went anywhere. No update, no response, no pushing the lenders on your behalf. I eventually just withdrew and went elsewhere.

  Just my experience, others may have had different. But wanted to share

  • 

    [Deactivated] on 21/08/2020 - 20:34

    +2

    Should raise a case with AFCA as well ASIC.

  • 

    AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 21/08/2020 - 21:39

    Hi smitty, thanks for your comment, have taken on board and this was a learning experience for us. We're sorry you didn't get the result you wanted.

    As an explanation of the process but not an excuse, your application was during the bank's recent promo's where almost all the bank's service levels blew out from 2 to 40+ business days (8+ weeks, 20 times slower than usual and we tried to notify most customers upfront). During that time, bank policy did not allow brokers to push a deal ahead of another similar refinance scenario just by pushing, as the bank had thousands of similar deals in the same queue. Generally escalations were available for urgent cooling off/purchase settlements within 5 days.

    As you can appreciate, we were under the same pressure and took up to 5 days to return some emails during this time and understand this frustration.

    It's unfortunate you used us during the bank promo (as most did on Ozbargain and had a similar wait time to approval) but can only hope you are able to try us again one day when we are back to a 1 day response time.

  • 

    Ragnarok1983 on 23/08/2020 - 16:41

    +1

    Yes a bit slow due to COVID but I got my refinance and cash back bonus with Len, so YMMV.

• 

  clover on 21/08/2020 - 21:07

  +3

  What a rare sight. A deal without a single upvote

• 

  dontask on 21/08/2020 - 23:36

  +1

  Bundle Home Loans is super slow to respond to anything. Not sure what would happen or what sort of service you would get if you needed them for some reason - and you need to keep with them for the first two years to get your rebate!

  • 

    AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 22/08/2020 - 19:43

    Hi dontask, sorry we couldn't respond to you quicker as we underestimated our ability to respond to everyone in a timely manner. We do take full responsibility and have no one to blame but ourselves. Our main role is to help customers obtain loan approval and with post settlement assistance, but customers do have the option to contact the branch directly for setting up accounts etc.

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  vuithe on 22/08/2020 - 18:27

  Worked with bundle. Most terrible experience. You could save a lot of time and money going with other brokers.

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  AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 22/08/2020 - 19:45

  Hi vuite, sorry you didn't have a good experience and we regret we can't change the past. Apart from the above regarding our slow response time and need to provide regular updates, can you advise any ways we can improve our service in future?

• 

  xxxcc on 24/08/2020 - 11:50

  Hi Len,
  I emailed you in enquires about refinancing and yet to receive a confirmation email. When shall I expect to receive something? Thanks.

  • 

    AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 24/08/2020 - 13:05

    HI Chris pls DM me your email or mobile ASAP. Sometimes emails go to our spam folder so if you don't hear back in 1-2 days, please give us a call 02 9698 7186.