WHITE Home group Broker

[probe]

Has anyone ever heard of a mortgage broker called White Home Group?
The person's name is Adrian Borcherds.
I got his name card after visiting Mirvac sales office.

Their website it www.whgroup.com.au
Went to see it but there's nothing on that address
They offer a $200 solicitor conveyancing fee if I use them to find a lender.

Anybody here has ever used this company's service?

Am thinking of taking a construction loan, any lender or broker recommendation?

thanks

 

[manny]

Hi Probe,

I personally haven't heard them, but know that there are MANY other brokers that regularly post in this forum & may be worth speaking to one (as they are IP savvy, you are likely to get more than loan advice)...

Good luck with everything...

Cheers,

Manny.

 

[Qlds007]

You might find that they are affiliated with Lawform as their aggregator as they were pushing a conveyancing kick back when you arranged a loan through one of their brokers.

Personally my attitude is any broker who refunds part of commission to you shows that he is not professional in nature as i believe that a person should be fully rewarded for his knowledge and experience.

Tends to be the newer brokers who try and offer the rebates or kickbacks.

 

[Bradsdad]

You might find that they are affiliated with Lawform as their aggregator as they were pushing a conveyancing kick back when you arranged a loan through one of their brokers.

Personally my attitude is any broker who refunds part of commission to you shows that he is not professional in nature as i believe that a person should be fully rewarded for his knowledge and experience.

Tends to be the newer brokers who try and offer the rebates or kickbacks.

They were but with latest commission cuts I don't believe this is the case anymore as it's unaffordable. The way they mainly worked was that if a deal was refered to a MB from one of their solicitor members it was the solicitor who discounted their fee as it was made up from part of the commission recieved.
I for one used to do this as income sharing is better than no income at all. Back then I was a "new kid" on the block to Mortgage Broking but had 17+ years of banking/finance behind me. Back then (5 year ago)being a "newer" broker didn't make be any less knowlable than a cabbie who'd been a MB for 5 years already .


In answer to the orginal post, I've never heard of them but many of these companies like Mirvac have started their own broking arms. Porter Davis does this and usually pay a set retainer to the MB, keeping the rest for themselves. If this is the case with Mirvac then the MB isn't actually cutting his income at all.It's not to unbelievable to think they also have a deal with a legal firm.


Regards
Steve

 

[probe]

Thanks all for your insight and information.

I contacted the guy and will be talking the details with him soon.
Any questions that you would recommend I ask him other then the standard ones like:
how many clients you have
which loan you specialize in
how much commision you earned
how can you give $200 solicitor fee package

 

[Bradsdad]

Thanks all for your insight and information.

I contacted the guy and will be talking the details with him soon.
Any questions that you would recommend I ask him other then the standard ones like:
how many clients you have
which loan you specialize in
how much commision you earned
how can you give $200 solicitor fee package

I would consider none of the above of any importance except maybe the last. Find out who the solicitor is and have a chat to them about what they offer and to see if you are comfortable using them. In regards to "speacialising", if the guys affiliated with a display village you'll probably find contruction is all he does.
More important would be the MB's commissions for varying lenders recommended to you, time frames, industry experience & level of aftercare. As i said in a previous reply, I'm not aware of this guys set-up, but I would be finding out if he dealt with the file from start to finish. With some of these set-ups you find the "MB" takes all the information and prepares it for submission, from here it's the handballed and the "MB" concentrates on the next person walking through the door. He then gets paid his retainer plus any bonus and forgets you exist.
In this circumstance I guess it depends on wether you wish to become a number or a client.



Regards
Steve