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I know there is some good ones out there, I'm just going to have to be patient, trust my instincts and not feel pressured to rush into anything. I have found that a lot of them use bullying tactics and emotional fear to try to get you to do what they want. The mortgage broker we saw spent more time on the phone being aggressive with other clients that I was shocked he was in business at all. It was like they had never heard of business ethics or customer service.
It's extremely frustrating but I'm hoping I can find a broker that will be able to help us now and hopefully in the future.
I have been reading some of the posts from the other forums and it sounds like I am not the only one frustrated with mortgage brokers. It is so unfortunate when people enter an industry with only the view of greed. It will one day com back to bite them, Eddy Groves is living proof of that. Anyway I have Stuart Wemyss' book. Hopefully, if anything, I will become educated enough to put the pressure on the next broker I see.
Just another quick question, the bank was offering this product which allows a 0.70% and no fees & charges, plus a few other discounts linked to other products for the life of the loan but you had to pay $350 p.a. What are your opinions on these type of products?
Megan
I too am looking at securing our first loan and it is a minefield out there. We are currently just shy of 20% deposit, but will be well over it in a couple of months time as my father is willing to give us a substanital loan. My husband is self employed therefore we will be looking at a lo doc loan for the obvious reasons. We went to one broker who was recommended by our accountant and he was so aggressive that we left feeling like we had been violated. Went to one the CBA next and we have been non stop hounded by the lender since.
How do we find a lender who is in it for us and not the dollars that follow? How do you know that you have found a god lender/broker?
Megan
