Australia housing bubble

[T3rminator]

Originally Posted by MITCHAY

My broker finally got back to me saying they were off last week but that it's been two weeks.. Repeated back **** I already know and call me to setup a meeting.

I asked for a rate reduction not for a refinance and I make it clear that if I refinance it is not going to be with them.

So now there is incentive for both the lender and the broker to actual earn the ****ing commission they are paid for and see what we can get without the paper work BS

Usually with a rate reduction review, you just set up a meeting with the bank manager. Do you need to get the broker involved? Get the broker to quote you some rates, then take it to the bank manager for negotiation. Did that with one of my loans, and it worked! Broker didn't mind doing the work cos he knew I was looking to refinance with a couple of other loans. The broker only makes money when a new loan is settled + trailing commission. The trailing commission is peanuts per person, so I doubt he'd put you on the priority queue. But if you were to switch.....he gets good money.

[MITCHAY]

Originally Posted by T3rminator

Usually with a rate reduction review, you just set up a meeting with the bank manager. Do you need to get the broker involved? Get the broker to quote you some rates, then take it to the bank manager for negotiation. Did that with one of my loans, and it worked! Broker didn't mind doing the work cos he knew I was looking to refinance with a couple of other loans. The broker only makes money when a new loan is settled + trailing commission. The trailing commission is peanuts per person, so I doubt he'd put you on the priority queue. But if you were to switch.....he gets good money.

I have a broker. The only reason I'm with this mob in the first place is they bought out my original brokers book for salary when he sold it and then they ****ed him over.

They are paid the commission so I'm going to put the pressure on them to try to get me a good rate and if not then I'm going back to him if I have to refinance. No way I'm going to do it with them.