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One thing that this thread has highlighted for me is that setting up a good loan (which is what actually prompted the thread) is only a part of what makes a broker worth choosing. It's important, but only part of the equation. No one here has complained that their loan was set up poorly, but...

Far out Jamie, you must have a whole library of chip posters! :D

@SWS - I'd just a have a chat with a few more to see who you click with - I imagine we all have different ways of doing business and relating to our clients and sometimes it can be personality and the way they communicate and relate that can make all the difference.

Nope, they wouldn't know unless you refinance their loans. Depending which bank you're with, it might be less than 2 years - maybe 18 mths.

Haha - I know I don't have all the answers! What's important is that you're willing to find them out, and have the resources to do so.

I think the opposite - the broker is as good as the questions they ask you. Your broker should be able to draw you to things that you may not have considered at all before. For eg, it's hard to ask about structure if you don't know what it is/whether it's required. Your broker should be...

This is true, however it's imperative that they have a good understanding of the tax side of things whether they are a registered agent or not. That's the whole problem - too many have zero idea about the implications of the loan structure they're recommending.

Hi all :) I feel compelled to write this post because last week I had a significant number of people chatting to me after getting horrendous advice from their brokers - advice that could cost them quite literally over a hundred thousand dollars over the life of their loan/s. If you've...