mortgage brokers

From: Darren Beech


hi guys just wondering if an Interest only loan instead of a P&I loan set up by a
mortgage broker affects a brokers commission?i assume they would get commission for either loan but someone told me they dont for IO.
 
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Reply: 1
From: Patrick O Brien


Darren

It doesn't matter whether the loan is I/O or P&I-Brokers still get the same commission.

Cheers

Patrick
 
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Reply: 2
From: Rolf Latham


Hi Darren

I would agree with Pat with the following addition.

Many lenders will only pay to 70 % of a Line of Credit Limit.

Ta

Rolf
 
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Reply: 2.1
From: Alan Hill


Rolf,

All this time I thought you did it for the love of it!

I always assumed that longish number on your business card was a Registered Charity Number.....now I look at it closer.....your right, it's an ABN! :)


:)
 
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