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Cash back sites

Discussion in 'Property Finance' started by Hillbilly, 14th Jul, 2015.

  1. Hillbilly

    Hillbilly Member

    Joined:
    27th Jun, 2015
    Posts:
    9
    Location:
    Sydney
    Hi
    Has anyone ever used one of those cash back sites where they promise to give you money from your mortgage trail back commission?
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,584
    Location:
    Adelaide, SA
    No, but not sure why you'd want to either.
    It's not like using a good mortgage broker costs you anything to use. They earn what they're worth from their normal channels. I'd rather use a good one.
     
    Jess Peletier and Terry_w like this.
  3. jpcashflow

    jpcashflow Well-Known Member Business Member

    Joined:
    21st Jun, 2015
    Posts:
    371
    Location:
    Melbourne
    Hi,
    There was a company called refund home loans who did this... but looks like there business got refunded lol..

    If I have a client where I am doing a couple of loans for them, I usually provide a cash back offer just as a thanks for their support.
     
  4. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    679
    Location:
    Sydney
    My mortgage broker gives me 70% of the upfront commission and I'm very happy with him. I think he changed it to 50% for new clients though.
    www.cashbackmortgage.com.au
    Jon Mardell, nice guy.
     
  5. OC1

    OC1 Well-Known Member

    Joined:
    6th Jul, 2015
    Posts:
    212
    Location:
    Melbourne
    @Corey Batt gives you the trails too.
     
  6. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    1,167
    Location:
    Adelaide, SA
    Nice try Oscar. ;)
     
    OC1 likes this.
  7. Hodge

    Hodge Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    513
    Location:
    Melbourne
    If a broker gives you 50% of his commission, do they pay tax on the full commission or would the client need to write up a receipt and they declare the other half of the commission?