big thanks to Rolf...

[Richard Feynman]

This one time, I went to a restaurant.

They specialise in nut, dairy and seafood-based dishes.

They asked me if I could disclose any food allergies I had.

I refused.

They wouldn't serve me.

I starved.

 

[oc1]

This doesn't mean a broker should give you advice on it, but at least they can point you in the right direction.

Goes back to what i said earlier. You can raise these possible scenarios with your client with a discussion.

Each broker will have their own way. Moral of the story is to choose one that suits your needs.

 

[8fold]

Each broker will have their own way. Moral of the story is to choose one that suits your needs.

No truer words are spoken, many people have obviously had a great experience with ASAP but I didnt really. Not going into to much detail but it was more about timely, or any, response to emails etc. Best thing to do is just email/talk to a few. If you dont get a timely response straight up then its unlikely to change when you are trying to get a reval/settlement done....

In saying that the incredible information that Rolf has shared here is gold to anyone trying to get better at this game including me and I will be forever grateful for that

 

[Ace in the Hole]

Rolf advised me to establish a 2nd trust for our 2nd Brisbane purchase.
My accountant is pretty good with these things, but must have overlooked it this time and Rolf picked it up.
This saves 6k annum in land tax, less the costs to maintain the trust.
Happy with that.

 

[Aaron_C]

What about if something happens and you can't work and don't have income maintain the loan (and keep your house)? If the broker is going to help you go into debt, then perhaps the broker has a responsibility to at least have a discussion with you about risk mitigation.

You know based on that argument there really shouldn't be any brokers, just financial planners. I don't pretend to know a lot about insurance so in my cynical view it is a ploy by the aggregators to scare brokers to refer clients to their 'wealth' area to generate new business and 'extract maximum revenue from the client'. Which is fine from a self interest point of view but I really doubt the necessity of it.

 

[chylld]

+1 for Rolf. I had no problems filling in the factfind because I wanted more than just a good mortgage rate (which I got anyway.)

 

[Marty McDonald]

* You can tell Rolf enjoys the big picture stuff from his posts and therefore it is logical to me that his fact find is more involved than some others. If you just want a broker to just do a transaction then he is probably not the right guy for you. Thousands out there that would suit you better.

* A lot of the fact find stuff prompts us to explore things we are required to now under the NCCP and provides a paper trail of the same. We have to show ASIC how we are complying with responsible lending requirements. Just doing responsible lending isn't enough anymore.

 

[Jins13]

Big thank you to Rolf and his team. Very patient guy even though I was harassing him on a daily basis via email/ phone calls.

Not to sound critical or be negative, but previously I was with a broker who last financial year wrote over $480 million in loans, however was informed that I was maxed out with my serviceability and unable to purchase any more IPs. I was with one lender only. With Rolf, I was able to go for more IPs.