given the runaround

[stirling]

I have a friend who is having trouble with their broker giving them the runaround. Not a broker on this forum of course, but one serving the southern area.

The regulating body said they could not help as they were not a member of their organisation.

As the date for finance approval is past, the broker is becoming more shy about returning calls and will not even talk directly to the borrower. The borrower can not even get an estimate of when the loan will be approved to arrange an extension of approval of finance.

Any suggestions. Feel free to email direct if not suitable for posting.

Stirling

 

[Rolf Latham]

Hi STriling

The key issue is who is the funder.

No decent broker or major lender would allow that to happen.

I would hazard a guess its a mortgage manager or an internet only lender who shall remain nameless.

Can you reveal who it is, then we can give some more "targetted" advice.

ta

rolf

 

[stirling]

According to their name they should be great. Funds are from Australian Mortgage Securities and Interstar.

Stirling

 

[Rolf Latham]

Hiya

I suggest that the friend seek an independent broker and use someone like Homeside (NAB) to gte the deal done fast (like 3 to 5 days)

Many wholesalers and net only lenders promise no fees, low rates and great service. Often thats true, increasingly Im finding thats uncommon.

There is no free lunch..............

or dinner


Ta

rolf

 

[D.T.]

Hi,

I've found that services have three attributes: fast, good value and reliable. Unfortunately, most services today seem to be lacking at least one of them. Best to go with someone who was recommended to you by a friend or family member.

-Regards

Dave