Issues with broker

Hmmmm....another reason I don't use brokers who do this......my broker does not do this.

She makes a killing in trails though.....

If something 'accidentally' happened to trigger it with the same lender, like Marty said I'm sure something could be arranged - I've never had it happen but I can't imagine it happens often.
 
Just out of curiosity, would a broker be annoyed if you bi-passed them and went straight to the bank?

Under what circumstances can brokers lose their trailing commission?
I don't know. I talked to mine and he told me to deal with the bank directly and gave me some guidance on a strategy. We are both very happy I got a 0.85% discount on my interest rate. I don't think he would lose his trailing commission because I got an interest rate discount by talking to the bank. But as I said, I don't know.
 
It can be really annoying when clients go direct to the bank - mostly b/c bank staff can undo a lot of our work by giving conflicting advice or implementing clients instructions wrong. It can also be like chinese whispers, where a client has the right idea but communicates it slightly wrong and ends up with something less than ideal.
Agreed. I talked to my broker before I talked to my bank. All I was after was an interest rate discount on an existing loan. I found talking it through with my broker first was very useful as I felt a lot better prepared after talking to my broker. I always run things past my broker first anyway. There have been a number of times when we have come up with better options, so definitely worthwhile. If you can't have those conversations with your broker, it is time to get a new broker IMO.
 
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