Hi just wondering have any of u people heard of sample and partners i have made an appointment to see them claiming they can save me so much money of my house loan. The thing is i have never heard of them and he was telling they where best something of 2003 so any comments u have on them please let me know thanks
Hi
I have a friend who used to work for them, don’t know too much about them except that they teach you general mortgage reduction principles. Not sure how much they charge though for their services.I think they also act as mortgage brokers but can’t substantiate that. Let us know after your meeting?
Personally I think you could probably find the same info in a lot of good books or on this forum.
Can anyone suggest any good books on basic mortgage reduction principles? Can’t think of any off the top of my head.
Brendon
Acute Mortgage Reductions
‘Better Finance for More Homes Sooner’Hi.
Last time I crossed paths with S&P they were charging a $3000 fee for their services.
Be aware of your alternative options and read everything very carefully before you sign anything.
Cheers – brad
Well just to let you know i didnt sign with them.They also charged a $4000 fee on top of your loan that u take out with them. Really they are offering nothing the banks cant do for u where u put all your money into the house loan and live off a visa card then pay the visa card of before the intrest is due. That was nothing new to me and i knew the banks can do it aswell so i decline there offer. Then the rep asked me how i am paying my house loan off i told it i was paying 500 week and my repayments are only about 230 i put that 500 into the house loan which is an offset account which i can redraw from it at anytime i need to for nothing then i put another 300 into my savings account to pay for bills and what ever else plus my wife pays for the groceries and stuff with her wage she only works part time so it just enough for that, also the banks fee is only 350 or something like that a year. Well the rep told me that they can see me getting in trouble in the future with this sort of set up thats when i had enough and ended the talk and just said sorry not interested and that was the end of the meeting.
These mortgage reduction guys are the bad end of our industry and the ones that give us a bad name.
If you ever hear of your friends contemplating paying these sorts of fees please stop them and steer them to a reputable broker who can set this up for free.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Morgagehunter has it right, I had these folks (S&P)come to my place and tell me basically to do what I was already doing, and they would come visit me every so often to make sure I was “keeping up the program” etc. I told them that I was already doing what they suggested, and could not see why they should charge the fee they were asking… especially when a reputable morgage broker sets these sort of arrangements up for you for free!!!![8]
Steve Kerr
Opportunity knocks softly, listen carefully!
I am happy that I found this information. Thankyou very much. I had a call from these guys last week, I listened to what they had to say but it all seemed very out of the ordinary. I will now know to tell them I am not interested if they should contact me again.
Think Haj Gill Has a reasonable book out, something like how to reduce your mortgage in 4 easy steps or such.. been a while since i read it..
On that note i got it “FREE” from HSBC web-site
Or do a ‘search’ on Google in Au
Noel Whittaker has a book out on Loans as does.. Hmm whats his name from the ‘money show’
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Hi all,
Don’t be so quick to dismiss Sample and Partners. You say it’s the brokers giving the industry a bad name, but in my opinion its the banks who have been overcharging me for years and making me pay ridiculous ammounts of interest.
I’m a layman when it comes to finance but the consultant from S&P really opened my mind about these sorts of facilities that my bank never once offered or mentioned to me as an option.
I’m a very busy man, so handling finances and researching options was something I didn’t have the time for. The Consultant was very proffesional and even followed up numerous times to monitor my progress and set me on the right track. So in my opinion, the service to cost ratio is right on the money.
In any case I’ve made more of a dent in my mortgage in the last 12 months than I have in the past 5 years! If I keep on this track my mortgage will be payed out in 8 years instead of 20. Now my investment property goals seem a lot more realistic to me.Thanks, hope that helps.
Interesting
Thank-you for the other side of the coin!
Brendon
Acute Mortgage Reductions
‘Better Finance for More Homes Sooner’Happy customer, that’s good, and glad it worked for you.
I guess what we are pointing out though, is that any good mortgage broker will provide the same service to you – for free.
I’m intrigued that you’ve called yourself Happy Customer and only have posted regarding this company though…..
Cheers
MelI joined one of Sample’s parralel operations 4 years ago. I was given 2 weeks of training in how to sell a World Home Loan. It didn’t take too long to realise it’s all smoke and mirrors. These days I run my own mortgage business and DO NOT SELL Line of Credit type products. I have seen to many people get into trouble with this facility as generally they are unable to discipline their spending especially on what is put forward as to what their spending level should be, approx’ ½ of their net income. Imagine someone on say $40k pa with 4 kids. It’s bull<edited>. I hope ASIC takes Samples and subsidiaries apart. The sooner a proper licencing system is in place, the better.
Bob McLay
Fair Deal Financial Solutions.Like Geronimo, i worked for a subsidiary company of Sample and Partners (possibly the same one).
When i say i ‘worked’ for them, i did the initial 2 weeks training and went to a total of 3 clients interviews before i told them where they could stick their job.
World Home Loans is in fact owned by Sample and Partners, despite the fact that their script, which incidentally claim is ‘ASIC approved’ cough cough, clearly states ‘unlike Wizard and other such lenders, we don’t actually lend the money, rather we act as an intermediary’. This in itself is so shady it’s not funny.
They apparantly do sell other banks products, such as St George and Suncorp, but i never heard of any consultants writing loans from other lenders.
They focus almost entirely on line of credit products, with accompanying material showing you how to pay your loan off in something like 8 years, complete with miniscule writing down the bottom saying to achieve this result you have to pay virtually double what you are paying now, of course not informing the client of this.
Oh did i mention the line of credit product that they offer is about 1% p/a above what you can get at any of the major banks?
During the training i questioned numerous claims and was almost shouted down by the presenter. They stressed the most important part of the spiel is ‘conditioning’. Ummmm guys, i thought the most important part was actually assisting your clients to obtain a better product?
Oh yeah, they also charge the client over $3000 for the privilege of being bent over.
Sample and Partners have been under investigation from ASIC in the past, and may still be.
If anyone here gets contacted by Sample and Partners, or one of their subsidiary companies (of which there are a few) run a mile. Any half decent broker will put you in an infinately better loan and you shouldn’t have to pay for the privilege.
Just reading through all those posts and one positive person “happy customer” I guess he would have been even happier if had av used one of us brokers here as would have had the same service and kept his $4k .
It surprises me that they still catch people out, charging for their service but I guess there will always be someone out there willing to pay they use the old numbers game. Knock on enough doors and bound to find someone whom has the cash to pass on.
Wayne Skewes
Mortgage Broker
Email [email protected]
http://www.eaussie.com.au/Mortgages/Aussie_Mortgage_Adviser.asp?ContentID=852280
Refinace, Loan Consolidation, Owner Occupied or Investment Finance. Free Service I come to you!Just a wild guess, but perhaps ‘happy customer’ may be happy because he/she is somehow affiliated with S&P…..
I find it hard to believe anyone could have anything positive to say about them.
In fact reading back over happy customer’s post, several parts seem suspiciously similar to the S&P script. Hmmmm.
And not bad for a maiden post.
Maybe a S & P plant.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Richard Taylor | Australia's leading private lender
Hooray for sites like this
I got cold called yesterday, was highly skeptical, read this thread today and feel good that I didn't fall for it all Always remember that when someone calls you (cold call) they are trying to sell you a product that will make THEM money, and make you spend yours.
Thank God for the invention of the answering machine.
I got cold called yesterday, was highly skeptical, read this thread today and feel good that I didn't fall for it all 
You must be logged in to reply to this topic. If you don't have an account, you can register here.
