Hi Grantos

It can be frustrating when the price is listed with a plus sign after it. Some agents use it as a lure to generate more interest.

At the end of the day, it's up to the vendor to decide which offer they are willing to accept.

Cheers

Jamie

I should have also mentioned. Leave the challenger loan as is – breaking the fixed period won't make financial sense and taking it over to CBA prob won't make much of a difference in terms of the rate discount you organise.

Cheers

Jamie

That's the equation I'd be using….and if you intend on staying with them for longer than a couple of years than the rate discount will prob best.

Cheers

Jamie

Unless you use a gaurantor on the switch you'll prob have to pay LMI.

Sounds like a lot of paperwork everyone – all for a small savings. I'd take the small discount on offer.

Cheers

Jamie

Yep, they're not the easiest to negotiate with. We've organised a couple of 1.06% discounts in the last month for borrowings around the $700k mark…I doubt they would consider going any further at this level…..ANZ will give you 1% off anything over $500k if the LVR is right.

Cheers

Jamie

Have to get a diploma before 1 July 2012 as well.

Apparently a few additional modules are being added to the diploma shortly as well…..ah, it never ends

Cheers

Jamie

Not a good lender to opt for if you plan on accessing equity at some point – particularly if you were planning on topping up to 90% LVR

Cheers

Jamie

hmmm…..the ABS might have some info, but I'm assuming you've probably sussed that out already.

Cheers

Jamie

Hi Michael

I'm a tad confused. Who pays you for your services?  I assume you don't work for free.

If you're not being paid a commission from a lender (ie – the traditional broker that you've alluded to) then you must be charging the client a service fee (which would likely make your service more expensive than a traditional broker who would have access to the same products but not charge the client a fee).

Insinuating that "traditional" brokers steer their clients to one lender in return for higher commissions is deceptive and misleading. I understand that you have your own agenda – but don't try and scare people into thinking that "traditional" brokers are only after the highest commission.

Most of us have built out businesses up via excellent customer service which leads to referrals and repeat business. If we acted in the way you describe (ie. pushing the bank that pays most) then we wouldn't last long in this industry.

Besides, the commission structures by most lenders don't vary a great deal. The lenders that pay most generally operate in the non-conforming, credit impaired space and any broker sending a vanilla deal to a lender like this will front up to ASIC at some point.

I'm not looking for an argument (I don't have the time or energy) but drop the scare tactics about using "traditional" brokers.

Cheers

Jamie