Loan information

[SriLankanCat]

Im meeting a loan broker for the first time this week.

Wat should i be looking out for?

e.g. interest only loans, redraw facilities etc. etc.

anyone got any advice

 

[dmc333]

Don't take money from this guy.

 

[freocuz]

Im meeting a loan broker for the first time this week.

Wat should i be looking out for?

e.g. interest only loans, redraw facilities etc. etc.

anyone got any advice

There are too many variables for you to be getting advice from this site. If I was you, I'd be finding out what experience the broker has. You may or not be aware, but there are no national laws covering mortgage brokers so don't just assume you will be dealing with someone who knows what they are doing.

As far as product facilities go, you need to express what you are looking for. Most borrowers will be looking for cheapest rate, cheapest fees, best features or banking facilities. Or a combination of the above. It's unlikely you will get the best of all worlds. If your broker is any good, he/she will listen to what you want and guide you to the most suitable product and lender.

I'm a WA based Mortgage Broker, so I do have a bit of experience in this. In WA, we are licensed by the WA government through Consumer Affairs, which is different from the rest of the country. If you want some more info, you can PM me. I'm not a hard-sell salesman, although if I can help I will try.

 

[HighettBomber]

Post what the broker has to say and I'd be happy to reply. It would be worthwhile for you to post this same question on a board such as Somersoft.com where there are a lot of experienced broker and property investors etc. You would get a lot of feedback there.

 

[yeah_nah]

Don't take money from this guy.

HAHAHAHA
top call
and your location practically made me jizz