Hi all
Wife and I were thinking of refinancing our home loan
I used to see heaps of brokers on ozbargain advertising cashbacks or trailing commissions repaid to the customer - but none for a while
Has anyone got anyone they would suggest - a broker who they were happy with?
Ideally we are looking for a decent cashback with a great rate and mortgage offset. Would like someone recommended to speak to
Cheers
Flashi007
I'm sure this will get downvoted, but the best brokers don't need to give cashbacks.
I've done 143 refinances for OzBargainers, and never paid them a dollar.
Try Len from Bundle Home loans (from memory)
Good luck with your search,
Aidan.
I'm sure this will get downvoted, but the best brokers don't need to give cashbacks.
That doesn't answer the question of why brokers who were willing to do so in the past no longer are. As a broker you would be in a position to potentially answer this. Is it fewer borrowers so less commish so brokers are unwilling to part with any of it? Cost of living eating away more of the commission so can't afford? Etc.
Here's my guess - brokers were happy to offer cashbacks when fixed rates were in Vogue. Now everyone wants variable, the risk of a clawback is far greater.
I've never offered cashbacks, and never will, so I'm probably not the best person to answer your question.
Also, my settlements grew by 43% YoY (as I'm sure many broker's did) so unsure where your sentiment of fewer borrowers or less commission is coming from.
Aidan.
unsure where your sentiment of fewer borrowers or less commission is coming from.
Those ended with a question mark for a reason, they were not statements of fact wild conjecture as illustrations.
lmao wat even is the best broker
they're all bound by the same rules. Some brokers can wiggle u thru if you're marginal because theyre extra chummy with their BDM at a certain bank
But really that's not too important, 99% of the time you service or you dont. And there are many 'bad' brokers out there - unresponsive, slow turnaround, incompetent (e.g. thinks they can do you, ask you to put in a full application, then realise they can't).
Given the above, may as well find a broker that offers cb and kickbacks
ING /thread
Can you share your reason? Genuinely interested.
3 grand cash back, great rate, offset, app / online very user friendly
Agree, ING / St George / ME / ubank / Suncorp are probably the best 5 deals right now, depending on your scenario.
Aidan.
nah they're timewasters. Asks for a million docs, then decline. Avoid unless you're a straightforward payg.
In terms of highest cashback and low interest rates, St George is good. They offer 4k cashback for loans above $250k and their standard variable is around 5.29% through a broker.
here is the cashback offer