Changing brokers

Discussion in 'Loans & Mortgage Brokers' started by beachgurl, 5th Aug, 2015.

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  1. Redom

    Redom Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    4,607
    Location:
    Sydney (Australia Wide)
    Essentially thats how it works, has your name and account.
     
  2. ziwnoyeb

    ziwnoyeb Active Member

    Joined:
    19th Jun, 2015
    Posts:
    28
    Location:
    NSW
    okok.. thanks for the heads up! maybe i'll think twice before switching brokers next time ..
     
  3. bonanzawealth

    bonanzawealth Well-Known Member

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    23rd Jun, 2015
    Posts:
    58
    Location:
    Sydney NSW
    just out of curiosity, what if client comes back to the original broker to do the refinance with different lender? does the broker still charge clawback fee to client?
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,977
    Location:
    Canberra, Brisbane and Sunshine Coast
    Different brokers have different methods.

    I can't speak for others but if I wouldn't charge a clawback fee if I carried out the next refinance - because a new commission would be paid.

    Cheers

    Jamie