Does anyone know of Lendinglink ?

My accountant has referred me to Lendinglink for a loan, they only deal with customer referrals from accountants,solicitors and financial planners.
They say their employees are salary based and give unbiased recommendations. They have access to 45 lending institutions around Australia .
I would like to hear from anyone who has had dealings with them.
Any comments would be much appreciated.
Thanks Judy
 
Hiya

Dont know em.

Obviously if they only get paid a salary, and their advice is "unbiased" then they dont get paid any form of commission.

Which usually means youd be having to pay some form of fee.

though the below is from their website front page

This program was set up to provide a B2B referral arrangement (in exchange for a commission share) and now services over 300 firms nationally, providing a significant increase to the member firm's service offering and revenue.


ta
rolf
 
Never heard of them either but there would be 100's I've never heard of.

The "unbiased" comment is technically not correct as they would be "biased" towards lenders in the panel (45). Although lenders pay difering commisison levels, I don't see the issue of commission being an issue as a broker should be placing the business where it fits best with your current & future needs/goals. If the Mb isn't doing this the business is most likely to walk out the door in the future.
Unless your accountant is a mug, I would suggest he/she wouldn't have such a referal programme in place unless they were happy with the service the MB was providing unless of course it's a new arrangement or very few clients have taken up the offer. In this case they too are flying blind. Kudos must be given to your accountant for disclosing the commission arrangements.
I actually have a couple of such arrangements in place with solicitors that were set up when I first started out. These solicitors still refer deals to me know.

Have a chat to them and ask a few questions so you get a feel for them. If you're not comfortable look elsewhere.



OH and just on the 45 lenders available. It always makes me laugh a little and people using those kinds of figures for bragging rights. The chances are that some of these will specialise in non-conforming loans, some commercial and others that they have never used for competitive reasons. My bet it that they would be lucky to use 10 of them on a regular basis.



Regards
Steve
 
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