Looking for the Best Finance Broker in Sydney for Home Loans, Trucks or Cars
I'm after some feedback on past finance broker experiences or if you went directly to the bank.
If you felt that you did get the best deal on the market or either you didn't, like to know why either why.
The choice you made was it influenced by the bank or either by the broker?
If you feel that there is something important finance brokers should know then please give your experience here for us to understand how you would've expected it to be better?
Sometimes the finance broker only chooses the deal because it best suits the needs of the broker, Not to say all brokers do this, I would be wrong and unfair I would assume a low percentage of brokers may have a conflict of interest perhaps.
Thus giving the client the impression that mortgage broker is doing you a favour but in reality its not the case. the reason for this is because brokers deal with many banks on the market, and what tends to happen is brokers begin to like certain banks because certain reasons either because they built a great relationship with the BDM of the lender or they have a system which is easy lodgement for the broker or they pay better commissions, whatever the reason or case the client will probably never know.
so the question is, are you really getting the deal you really should get?
Brokers can save you money and time, but are you really getting the saving is the question.
Brokers get paid from the bank or lender, so you shouldn't really need to pay the broker anything unless the broker disclosed the fee upfront, which some do, they also should disclose the commissions paid by the lender and how much they will receive from your finance mortgage package deal you signed up on.
If the broker hasn't disclosed any of the above then you are dealing with a dishonest broker, there is your first sign of a rip off broker.
the other thing is the broker should give you three quotes from three different banks, the choice is not theirs its yours to make, if the broker hasn't given you any choice then there is another sign of conflict of interest.
your broker should make sure you are very satisfied with what was offered, otherwise they will not be getting repeat business I suppose.
In most situations people see a broker when they have had problems with the banks, bad credit history or getting the loan you needed for the purchase of a home was a little short on the offered loan amount from the bank, or you have had bad credit history or you are self-employed and banks are rejecting you.
That's when people tend to go to a broker because that's the last hope of getting the deal. Also going to a Broker because of more knowledge or because they have a large choice of different lenders and they know which lenders can loan the amount you need.
Please give your past or present experiences
http://www.gorilaloans.com.au/
If you felt that you did get the best deal on the market or either you didn't, like to know why either why.
The choice you made was it influenced by the bank or either by the broker?
If you feel that there is something important finance brokers should know then please give your experience here for us to understand how you would've expected it to be better?
Sometimes the finance broker only chooses the deal because it best suits the needs of the broker, Not to say all brokers do this, I would be wrong and unfair I would assume a low percentage of brokers may have a conflict of interest perhaps.
Thus giving the client the impression that mortgage broker is doing you a favour but in reality its not the case. the reason for this is because brokers deal with many banks on the market, and what tends to happen is brokers begin to like certain banks because certain reasons either because they built a great relationship with the BDM of the lender or they have a system which is easy lodgement for the broker or they pay better commissions, whatever the reason or case the client will probably never know.
so the question is, are you really getting the deal you really should get?
Brokers can save you money and time, but are you really getting the saving is the question.
Brokers get paid from the bank or lender, so you shouldn't really need to pay the broker anything unless the broker disclosed the fee upfront, which some do, they also should disclose the commissions paid by the lender and how much they will receive from your finance mortgage package deal you signed up on.
If the broker hasn't disclosed any of the above then you are dealing with a dishonest broker, there is your first sign of a rip off broker.
the other thing is the broker should give you three quotes from three different banks, the choice is not theirs its yours to make, if the broker hasn't given you any choice then there is another sign of conflict of interest.
your broker should make sure you are very satisfied with what was offered, otherwise they will not be getting repeat business I suppose.
In most situations people see a broker when they have had problems with the banks, bad credit history or getting the loan you needed for the purchase of a home was a little short on the offered loan amount from the bank, or you have had bad credit history or you are self-employed and banks are rejecting you.
That's when people tend to go to a broker because that's the last hope of getting the deal. Also going to a Broker because of more knowledge or because they have a large choice of different lenders and they know which lenders can loan the amount you need.
Please give your past or present experiences
http://www.gorilaloans.com.au/
Source...