"MortgageChoice"

[Marty McDonald]

Like others have said there are good and bad brokers in the network. As a ex MC broker I can say there are some top brokers. Wendy Highins in SA for example regularly wins accolades for being the top broker in the country. At the other end of the scale I used to attend MC meetings sometimes and think jeezus some of these people are not cutt out for this.

Same with going to the bank direct good, bad and indifferent.

 

[tobe]

Mortgage choice training is very good.

The question to ask any broker is whether they own any investment properties. Same goes for financial advisers, and accountants.

It reminds me of the old joke as to why they are called brokers, 'cause they are broker than you are'.


If my accountant/broker etc werent on the same path as I, how are they going to give me the best advice?

 

[Rolf Latham]

There arent any good lenders there are only good people.............

ta
rolf

 

[locko24]

The 2 requirements i'm after at the moment, i have found in my current broker.
1. Happy to spend time with you. ie. on the phone etc.. Previous brokers i've spoken with weren't to happy to answer all my questions!
2. Knowledgable - or willing to find out! I don't care if the broker doesn't know the answer to every single question i ask, as long as they find out and reply in a timely fashion.

My broker is a few hundred km fron where i am, and i've never met her, which has never been a problem! Extremely helpful though - she's replyed to emails at 9pm! I even get a scratchie in the mail on my birthday

If i ever reach a point where i think she can't help me, i'll definately hit up one of the guys on SS - Rolf or PT etc... From what i've seen those 2 know their stuff!

 

[Kristine..]

.... Yes they get kick-backs from whatever lender you end up with....

G'Day Cameron

Welcome to the Forum

'Kick-backs' is a bit of a slimy way to describe standard business practices - what business doesn't operate on margins, mark-ups or commissions?

Considering that Mortgage Choice - and any broker for that matter, but not the employees of any bank or lender - has to declare all commissions then viewing their business income as 'kick-backs' seems a bit strange to me.

Perhaps you would prefer to pay the consultant on an hourly rate? Then it wouldn't matter whether you qualified for a loan or not, or bought a property or not, as you would be responsible for paying their professional fee regardless of the outcome.

And if you only every deal with the 'Principal' of a company then you would never deal with any public company or indeed with anything but a 'One Man Band'!

And that would perhaps be somewhat self-defeating.

Glad that you are having a positive experience with Mortgage Choice, even though you seem to think that you are being 'sold' rather than 'presented with' information and options which may be available to you - but then again that is as much a matter of perception than actuality.

Hope you do well as an Investment Property Professional and find some great bargains in the Sydney northern suburbs!

Cheers
Kristine

 

[evand]

Your perception here, Kristine, is at odds with the public perception that brokers, agents, advisors etc working on commission are slightly less than 100% ethical. They are viewed as mostly sales people selling a product that they receive a commission for, a 'kick back' as it were. Often in the better interest of the broker than the customer.

But thats understandable as your'e in the industry.

G'Day Cameron

Welcome to the Forum

'Kick-backs' is a bit of a slimy way to describe standard business practices - what business doesn't operate on margins, mark-ups or commissions?

Considering that Mortgage Choice - and any broker for that matter, but not the employees of any bank or lender - has to declare all commissions then viewing their business income as 'kick-backs' seems a bit strange to me.

Perhaps you would prefer to pay the consultant on an hourly rate? Then it wouldn't matter whether you qualified for a loan or not, or bought a property or not, as you would be responsible for paying their professional fee regardless of the outcome.

And if you only every deal with the 'Principal' of a company then you would never deal with any public company or indeed with anything but a 'One Man Band'!

And that would perhaps be somewhat self-defeating.

Glad that you are having a positive experience with Mortgage Choice, even though you seem to think that you are being 'sold' rather than 'presented with' information and options which may be available to you - but then again that is as much a matter of perception than actuality.

Hope you do well as an Investment Property Professional and find some great bargains in the Sydney northern suburbs!

Cheers
Kristine