Restructuring Loans to Avoid Cross Collatorisation

[Aaron_C]

Thats the problem right there Brady. It is up to us to know what questions to ask before we engage a professional. Thats what this forum is about. We can find out the questions we didnt know we had to ask.

The 'unknown unknowns' question. Although this can be taken too far with the new NCCP rules etc - assuming people don't know what a loan is.

 

[alexlee]

Has nothing to do with being a broker or banker. Either can and do the wrong thing. You have to have someone who you can trust to do whats best for you.

Yes, but in the end, if the broker doesn't (whether it's because the client didn't provide all the relevant information, or the broker isn't competent enough) it's the client that pays the price.

It shouldn't be your responsibility to ensure that the loans are set up correctly for yourself.

Shouldn't be, but it's a lot better if the client knew what they wanted.

 

[Brady]

Yes, but in the end, if the broker doesn't (whether it's because the client didn't provide all the relevant information, or the broker isn't competent enough) it's the client that pays the price.



Shouldn't be, but it's a lot better if the client knew what they wanted.

It's the same with broker or banker. I was making point that you said they should see a broker, that doesn't resolve the issue. They should see a broker or banker that knows what they are doing. If you had of suggested a specific broker could of agreed, but just a blanket that seeing broker will resolve the isssue isn't right.

Yes but you don't know what you don't know.