Good Mortgage Broker

As has been mentioned if you have been contracting for the last 10 years you have been treated as self empoyed since then irrespective of the structure and entity you operate under.

Lodoc loans are available upto 95% however you will start to pay for it when it comes to interest rate and LMI with anything over 90% LVR. Insured loans at this level are all post code restricted bu the mortgage insurer so acceptance will be determined on the area you are looking at purchasing in.

Anything in the City or larger regional areas will be fine.

"lots of changes happening to the broker market over the next 2 years – not many brokers pay you money back …"

No decent broker ever will. These brokers obviously place no value in their service, generally with good reason.

topic is GOOD mortgage broker

not "mortgage broker who works for half the going rate"

Ive found that GoGecko give less than half rate service with their half rate fees.

Mortgage brokers will be the same.

A good mortgage broker will act like your life depends on them focusing on your application. Ive had a bad broker before, he never called with urgent critical info, he sold his own companies loans (AFG), he was slow, I had to get extentions 12x, he was incompetant, often sending the wrong forms.

Then I found the complete opposite of that clown. She understood my situation and knew exactly how to align the hoops so I could jump through them with ease & speed. When a form needs to be signed, she sends it by express post with the forwarding express post envelope inside addressed & ready. She calls every day as important dates near giving a progress report (with recent exception when she was giving birth!). She hounds the banks when they drag their feet, which is always. She even managed to get a loan approved during the Xmas break when all the banks were closed. She emailed top execs at the bank and didnt stop going higher till she got a result. And during a period when most people forget about work and focus on family. She even sends flowers, wine & chocolates when we move in.

Now THATS a good mortgage broker. No, you cant have her, shes mine.

cash back is irrelevant. what they get paid should be your least concern. its all about how easy they make the process for you.

its one time in life when you cannot compromise an inch on competance. a small error can cause infinite pain.

STAY AWAY FROM AUSTRALIAN FINANCE GROUP, ESPECIALLY A CLOWN NAMED DON.

Dear Wes,

Please explore my website http://www.iQuestfinance.com.au and especially the "testimonials" section, and you'll understand what my ability, passion and purpose are.
You are most welcome to email me with questions and I will do my very best to answer you and coach you to your destination if you are committed.

"Ask, you shall be answered".
Good luck.

Peggi

"Another way to look at it Perry is volume makes money"

This is not necessarily correct, and it is also incorrect to say that these businesses do higher volumes than brokers who don't give cash back. There are a large number of ways to attract business in the broking field and devaluing your service by buying business is probably the least effective, quite frankly it stinks of desperation.   

"we have had shocking service from full charge brokers, go figure"

Can't say I'm surprised, most brokers are useless. I bet you haven't used any of the regular brokers from this site.

"discounting is part of life like interest free store accounts"

Please note the performance of Myer, post their move down market, as compared to David Jones. Competing on price is often a poor strategy. As a customer you should look at value, rather than price, if you don't think a broker can offer you anything apart from processing your loan then its great that they pay you, they are still getting more money than they deserve. If you don't think that a good broker can add value to your investing either your needs are very basic or you have dealt with the wrong people.

Regards
Alistair

"This could go back and forward for ages …. Gerry Harvey became a billionaire by attracting people with cashback and discounting … 80% of brokers IMHO have trouble reconciling … their own credit card …"

I think its a worthwhile argument, but I also think we've both made our points, so i'm happy to leave it here. But i will add that Harvey Norman is not a discounter, they compete by offereing variety and also because they are very good at choosing stock that will sell (Gerry Harvey is an absolutely brilliant retailer).

I think its more like 95% by the way. I had a BDM tell me recently that a broker called her to ask what LVR means! Having said that, it is quite obvious that all the brokers that come on here know their stuff, if they didn't they would soon be shouted down.

Regards
Alistair