All Topics / Help Needed! / need mortgage broker

Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of bernie006@hotmail.com[email protected]
    Participant
    @bernie006-hotmail-com
    Join Date: 2009
    Post Count: 12

    Hi there
    We are in need of a good broker.
    I did interview a few.
    Who knows a broker who really knows their stuff?
    We need a broker who knows that rent income from usa properties will count in australia as income!
    Thanks

    Profile photo of Tony FlemingTony Fleming
    Participant
    @the-dark-knight
    Join Date: 2008
    Post Count: 396

    Corey Batt from Precision Funding is well regarded from these forums. I’ve used him multiple times before. Hope this helps :)

    Tony Fleming | Triumphant Property Group
    http://www.triumphantpropertygroup.com.au
    Email Me | Phone Me

    NSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury

    Profile photo of gshaheengshaheen
    Participant
    @gshaheen
    Join Date: 2016
    Post Count: 5

    I actually work at one of the big four banks. You don’t necessarily need to go to a broker in order to find someone who knows this information.

    What you really need is a good banker. While they are hard to find, they definitely exist.

    Are you looking at commercial or residential investments?

    What is tricky about your circumstances?

    George

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Hi George

    Really and a Banker will actually tell you whether you can get a better deal down the road………

    I must admit most of the poor set up’s or loan structures i have seen are on loans that have been processed by Bankers.

    At least a Broker can give you an overview of the whole market and compare all available loans to ensure the recommended product meets with your goals and objectives.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of gshaheengshaheen
    Participant
    @gshaheen
    Join Date: 2016
    Post Count: 5

    Hi Richard,

    Just like there are bankers who have previously set up poor loan structures, there are Brokers in the market who serve their own self-interest. Whether this means that they chase the highest brokerage / trail, or potentially only referring deals to “preferred” financiers.

    Not sure about the space you operate in – In the commercial space however, brokers forward their deals to commercial bankers anyway. If the broker understands commercial deals, deal structuring may be done via consultation between the broker and the banker. If the broker does not often deal with commercial deals, structuring is largely done by the bank.

    In either case, a good broker will genuinely provide a client with the best possible offering from a price / structure perspective. Likewise, a good banker will do the same thing.

    It’s all about finding a person (broker or banker) who is capable.

    George

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Yes totally agree there are good and bad of both.

    Not sure which lenders pay a higher commission because through the larger aggregators commission rates are almost identical.

    Guess you could also say there has been many a Banker falsify client details on an application to get a deal over the line to aid his / her own sales targets.

    In saying all of this a Banker can only offer a single suite of products and therefore is not able to offer a client the best rate in the market as they can only offer what their employer has to have offer.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    In saying all of this a Banker can only offer a single suite of products and therefore is not able to offer a client the best rate in the market as they can only offer what their employer has to have offer.

    That’s the single biggest factor when comparing bankers v brokers in my opinion. A banker can advise on one lenders products/policies. A broker can advise on dozens.

    I wrote about this recently – http://passgo.com.au/blog/item/24-the-benefits-of-using-a-mortgage-broker-over-a-banker

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    Definitely isn’t the same thing to go direct to a banker vs broker – quite simply the broker is going to have access to dozens of different policy sets and hundreds/thousands of lending products – so they can find a product to fit the investors needs, instead of try make the investor fit the product.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

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