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Can I ask lender to stop a trail ?

Discussion in 'Property Finance' started by Paul@PFI, 5th Aug, 2015.

  1. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    Can I request my lender to cease paying a trail if I'm ****** off with the broker delivery ? Or is that a issue between aggregator and broker outside my control ?
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    I don't think you can because of contractual agreements between the aggregators and the lenders. I mean you can ask, but I don't think they will do anything unless there is a change in the loan.
     
  3. albanga

    albanga Well-Known Member

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    Wow Paul! Feel like airing it?
    I would think not though, that to me basically sounds like can I ask someone not to get paid for poor customer service.
    If that were the case a subway employee would never get paid.
     
  4. Greyghost

    Greyghost Well-Known Member

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    Refinance in less than 12 or 18 months and broker will have the comm clawed back.. Trail ceases also
     
  5. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Which lender is it Paul?

    Cheers

    Jamie
     
  6. Waldo

    Waldo Well-Known Member

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    Had a bad experiance with a Broker? As I'm sure you know, bad (or unresponsive) service tends to be shared pretty widely compared to good service!
     
  7. Richard Taylor

    Richard Taylor Mortgage Broker & Brisbane Buyers Agent

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    With some lenders if your new broker does a loan increase or variation the new and existing trail will be attached to the new broker.
     
  8. Chilliblue

    Chilliblue Well-Known Member

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    Legitimate question and would also be interested in the answer.
     
  9. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Yes i really want to stop any trail commissions from my broker too at Smartline as she never returns my calls so why should i bother with her.

    I contacted the Commonwealth bank and asked them how do i stop this broker getting any trail commissions from my monthly payments.
    They told me to send in a form to complete.

    Smartline used to be great broker Company once but now a bunch of halfwits are being used as Brokers.
     
  10. Richard Taylor

    Richard Taylor Mortgage Broker & Brisbane Buyers Agent

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    Regretfully not as easy as all that unless you make a loan variation or increase.
     
  11. tobe

    tobe Well-Known Member

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    So why did you choose them to do your finance?
     
  12. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Hi Darlinghurst,

    When brokers do not pick up phone calls or return emails = two things 1) Lazy or 2) not giving a crap about there customers.

    Look at this as a opportunity to work with a new broker and maybe look at changing lenders?