Poll: Mortgage Broker

% use mortgage broker

  • Use and continue to use banks/FI direct (ie no brokers used)

    Votes: 38 29.2%
  • Switched from using banks to now using broker

    Votes: 18 13.8%
  • Use broker and continue to use broker

    Votes: 58 44.6%
  • Switched from using broker to now financing direct with bank

    Votes: 16 12.3%

  • Total voters
    130
  • Poll closed .
Hi, if not too much trouble i would be interested in finding out the % of somersofters that use a mortgage broker.
I have broken the poll up as follows:
1) Used banks/financial insitutions directly and continue to (ie dont use mortgage brokers).
2) Have switched from using banks/financial institutions to using a mortgage broker.
3) Use mortgage broker and continue to do so
4) Have recently switched from using a broker to dealing directly with banks/financial institutions.

Input appreciated.
 
Theres no Brokers and continue to use Brokers as in plural option :(

I had vote the singular option but not happy with being so monogamous. ;)

Like Buzz, Im a tramp :)
 
Used to use a bank but my so called "personal banker" stopped returning my calls, I hear he has now "left" :rolleyes: the bank. Now I use a broker to get finace with the same bank. At least he returns my calls.
 
I've used a broker for my last two purchases and have been impressed. When it comes time for the next, they will be one of the first calls I make. I agree with Sailor....they are a great time saver.

JJ
 
Use MB's...they do all the research and I get to choose what I want. Great time saver.

I agree 100% Sailor.

My first MB was a small, one man buisness and he was a nice guy and everything and seemed to do a decent job but this last purchase I went through a broker who came highly recommended to me and he was awesome, he is an investor himself and has been working in real estate for 25 years and had great knowledge on everything property investment.

He was able to show me all current comparisons from 30 something lenders on screen in a simple, easy to understand manner whearas the other broker had nothing like that.

They simply take the time to research the best deal for yourself and at no charge to you so I dont understand why one wouldnt want to take advantage of this.
 
We are fortunate that our MB is a personal friend as well as very ethical, yet can be aggressive with the financial institutions when necessary!:D
 
Mortgage brokers can be an invaluable resource - I've used the same broker for the last two purchases and have been very happy.
 
mmm very interesting results so far, for those somersofters out there who have not voted, i would appreciate it if you wouldnt mind voting.
 
Hi chilliaa,

How about going one step further and running a poll on which Mortgage Broker people tend to go with? If there was, I'd vote Mortgage Choice.

Not part of the company, just so happened that my favorite broker works there :) If he moved to another company, he'd take my business with him.

Cheers,

e
 
Mortgage brokers can be an invaluable resource - I've used the same broker for the last two purchases and have been very happy.

They can be great if they steer us towards the right product but from my experience they can push particular products which are not necessarily the best ones available for our situation.

One even wanted me to go into a LO doc loan when it wasn't necessary.
I was coming out of a fixed term and all I had to do is to call my bank and renew the loan. He conveniently didn't tell me that bit.

Ofcourse not all brokers are like that but I am very cautious these days and I do shop around.
 
Hi chilliaa,

How about going one step further and running a poll on which Mortgage Broker people tend to go with? If there was, I'd vote Mortgage Choice.

Not part of the company, just so happened that my favorite broker works there :) If he moved to another company, he'd take my business with him.

Cheers,

e

Then it wouldn't really matter which company he's with would it? ;)

I think a lot of people would be playing the man (broker) as opposed to the company after developing a relationship with them. So a poll on which company wouldn't help a lot. I use LJ Hooker for my property management, but if my PM walked out tomorrow I'd follow her and would feel no loyalty what so ever to the mob left behind.
 
Use both. Broker was used for my second last leveraged purchase. I will probably continue to use my bank as the relationship (two personal managers in the last 20 years) is longstanding and with a purchase 18 months ago, my lending manager jumped thru hoops to do the deal for me at a fixed commercial interest rate of 7.1 % back in March 2007.

Next purchase will likely be with the broker as going direct to a different bank to avoid X-coll, may pose difficulty to also become a premium customer there and get their discounts.....best left to the MB.
 
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