I don't see why people get so upset by this sort of thing. You can rest assured that anyone advertising on hear will be ripped to shreds if what they are offering is not up to standard. Why not let them put themselves up for scrutiny?

Raf2228 wrote:
Hi Guys!! I read your threads and from it Im going to do carly crutchfield development course. My problem is that I have an option of doing the course for $5990 or get the same course with the same materials for cheaper from somebody else. The problem with this is that I would need a mentor and I really dont know where to start…[Read more]

mortgagedetective wrote:
Gidday Dan42, I hadn't made the DCF connection, partly because I question the applicability of it for this purpose (i.e. what rpr works given the situation actually being modelled) and partly because it never came up :o(

You have to be kidding me, you continue to compare a saving over 30 years to a day one figure (the…[Read more]

mortgagedetective wrote:
Gidday Alistair,Although I'm lost on your motivation, I understand that you are less than enthusiastic about brokers offering such generous support to borrowers through mortgage rebates, but nobody is forcing you to be as decent with your borrowers.quote] My motivation is that people like yourself, who treat mortgage…[Read more]

Michael, if you want to have any credibility stop claiming BS figures for savings like 12.55%, you know very well the saving is far less than this in real terms. Also, please explain how a  brokers services are not free when they get the same terms for the same loan, be it through a branch or broker. Banks have a cost of client acquiisition be it…[Read more]

mortgagedetective wrote:
Gidday Alistair,Gosh I wish that came out sooner. So we are agreed the best way to state the saving (for the $450,000 homeside example) is:"a saving of 12.55% in interest and fees which equals $81,000 over 30 years"

No, because brokers are not selling a commodity, if they are any good. They are selling a service and c…[Read more]

mortgagedetective wrote:
The 18% saving on the $450,000 NAB/Homeside loan from mortgage rebate over retail has always been expressed as a percentage of the loan amount and calculated using real data. Although there has been plenty of allegation, nobody in this post has demonstrated the figure to be incorrect using real data.

There has never…[Read more]

mortgagedetective wrote:
Gidday Alistair,Borrowers interested in saving the 18% of loan amount (or 12.55% in interest and fees) can see the mortgage rebates they receive form at least one ORP mortgage broker paying them here: http://www.matesratesmortgagebrokers.com.au/mates_rates_mortgage_broker_commissions.htmlI am unsure of your motivation,…[Read more]

mortgagedetective wrote:
Gidday Alistair,I presume you are referring to the savings to the borrower of 18% in the above example (actually it's probably higher as I didn't model the 6 year+ step in because NAB – Homeside are the exception as you know.)If so, I'm not sure what you don't understand as this is the same basic modelling you would need…[Read more]

Please explain how you get these % savings.

Lisa J wrote:
Thanks RichardYeah – all the books say – find a mentor – someone who has done what you want to do – but it seems there are very few who want to help out for purely philanthropic reasons! Apart from those on Propertyinvesting .com, of course!!!Any recommendations as to lenders to look at that have fully transactional…[Read more]

How you get this 15% figure is totally beyond me. If you assume a mortgage of $250K and trailing comission of 0.15%, with 50% being rebated and paid into the loan, the saving over a 30 year mortgage is less than 3%. In most cases you can save a lot more than this by structuring your loans appropriately. I think you'll find that Richard Ta…[Read more]

mortgagedetective wrote:
On quality:I think your perspective that brokers that rebate commission are inferior is flawed. Quite clearly the commission Broker A gets paid with Lender A is exactly the same as completely inexperienced Broker B who just wrote his/her first loan with Lender A (assuming the same aggregator). It therefore follows that…[Read more]

The block is big enough to put 2 units, subject to the design. It is a total waste of time talking to anyone without at least a concept drawing. I strongly suggest you speak to Paulding Homes, they are a Frankston based volume builder, I'm sure they will be able to advise you on the liklihood of fitting decently sized units on the block

It's up to the borrower to make up their mind if they are getting good advice, if they don't get enough info to make an informed decision on this then they should go elsewhere. The fact is that if you get a loan from Westpac, ANZ etc you get the same terms whether it is through a broker or a bank, if the product is the same. Also the same question…[Read more]

The difference between  mortgage broking and financial planning comissions is vast. If you go directly through a mortgage broker or bank you get the same charges, rates etc. (so why worry if the broker gets paid, particularly if they give you good advice). Many people choose not to use a financial adviser to invrst in managed funds, in suc h ca…[Read more]

Hi Walp,If you really ned guidance, i sugest you have a lok at Steve  McKnights RESULTS program, which should be  advertised on here somewhere. They won't try to sell you property, which pretty much every  other program has been set up to do.RegardsAlistair

I'll be really interested to hear Richards comments on the JV idea, sounds messy to me. You can borrow in you SMSF through a "Bare Trust" structure and i would think it is better to keep you super assets seperate from personal assets. RegardsAlistair

Hi Propertylearning,As Richard suggested, if post some figures and also where the property is, it would be far easier to help you.RegardsAlistair

Hi All,I wasn't referring to mortgage brokers who rebate, that topic has been done to death. The reason for th post is that there were a lot of differing opinions on the merits of using a mortgage broker who rebates and I was wondering what peoples thoughts were as to the various non advice financial services firms that seem to be becoming…[Read more]