A better approach is to take the following attitude : "I am happy for service providers I use (such as Accountants, Mortgage Brokers etc) to earn a quid on my deal if it is the case that they are knowledgeable people, and they area making me wealthier through their knowledge. Further, I am pleased to find that because my service provider is so knowledgeable, he cannot help but to spill valuable knowledge during the course of regular dealings such as completing my mortgage application. I could not possibly expect to hear such nuggets of information from people with no knowledge that offer their services for free or close to it. I am thrilled that I am learning along the way just by having this service provider on my team."
Surround yourself with people smarter than you if you wish to prosper. You are the product of your environment. Would you rather have a portion of something, or 100% of nothing. All those sorts of phrases are what you need to think about when you are trying to save yourself $100 and in the process losing the ability to position yourself to earn tens of thousands.
As is often said, mindset is so important in investing.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
JacM wrote:Surround yourself with people smarter than you if you wish to prosper. You are the product of your environment. Would you rather have a portion of something, or 100% of nothing. All those sorts of phrases are what you need to think about when you are trying to save yourself $100 and in the process losing the ability to position yourself to earn tens of thousands. As is often said, mindset is so important in investing.JacM: 100 points and go to the top of the class.
You can't buy knowledge. You can however find a friendly person who has it.
While you are finding the cheapest price to save every last dollar you could well be missing the vendor of knowledge that maybe the most help to you in the future.
Modernity Investing
Email MeIt's not like the old days when everyone's standard variable rate was the same. A bigger discount doesn't necessarily mean a lower rate any more. It also depends on what else is being offered in the market at the time, as none of them like being beaten for good business. I know this answer seems evasive, but truly the only real answer is that it depends on both the loan scenario and the timing.[/quote]
That's true but there is not a lot between them and changing all the time, but I will put the question out there again to all the brokers on this forum,
What is the best final .rate to the borrower you have been able to offer in the last six months on a standard house purchase.
I will put it up as a new post so it is not lost.
The OP must have written to Scott Pape directly as well because in todays Sunday Herald Sun here in Melbourne, in his column the same question was posted.
His reply was "if you have 20% deposit you don't need to go through a rebate broker. That's because NAB's discount brand Ubank currently offers the cheapest variable mortgage, and they don't pay commissions."
Wrong advice on so many levels.
Cheers
Tom
PLC wrote:The OP must have written to Scott Pape directly as well because in todays Sunday Herald Sun here in Melbourne, in his column the same question was posted.His reply was "if you have 20% deposit you don't need to go through a rebate broker. That's because NAB's discount brand Ubank currently offers the cheapest variable mortgage, and they don't pay commissions."
Wrong advice on so many levels.
Cheers
Tom
Poor credit advice on a mass scale. Ubank and the no-frill online guys have their place – but can also be a terrible option for some borrowers.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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