Do mortgage brokers advise on other things?

Discussion in 'Loans & Mortgage Brokers' started by AbleTasMan, 7th Mar, 2020.

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  1. AbleTasMan

    AbleTasMan Well-Known Member

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    Does a mortgage broker help with arranging lawyers / building & pest inspectors?
    Is this a dumb question to ask them? I'm hoping to arrange a time to see one in the next month and wondered if they helped with that kind of thing as well. Would certainly make it easier as a first home buyer to have some good recommendations.
     
  2. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    Yes they could make recommendations but it's up to you to work with those people. Its not their role to be ordering or coordinating these things for you
     
  3. AbleTasMan

    AbleTasMan Well-Known Member

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    Thanks! Not looking for them to organize anything, just good recommendations I can follow up on. I just figured as they work in the property field they must know good trusted people.
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    No they shouldn't. Just as a hair dresser shouldn't mow your grass.
     
  5. AbleTasMan

    AbleTasMan Well-Known Member

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    Thanks Terry but I'm talking about related industries here, and I was in no way asking if they would do that work, simply know of people they could recommend.

    In my profession I get asked every now and then for recommendations of good people who are related to what I do, but in no way in the same industry and I'm always happy to give out names and numbers etc, and I'm always happy to go out of my way to help people out. I see this the same as going to a GP and asking if they know any good physiotherapists, psychologists, dentists or optometrists.
     
    Last edited by a moderator: 8th Mar, 2020
  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    Anyone can recommend anyone else. If you need s good hairdresser let me know.
     
  7. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    Yes recommendations are fine, but it would be good for you to also see if there's a fit for you to work with those professionals.
     
  8. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    You asked if a broker helps arranging lawyers and building inspectors. Seriously, they shouldn't as this is not their job and exposes them to extra risk. It had nothing to do with their role and something that is the responsibility of the buyer.

    You also asked if it is a dumb question . No it's not. If you don't ask you won't know the answer.
     
  9. AbleTasMan

    AbleTasMan Well-Known Member

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    Thanks, I totally agree! As a laid back guy I tend to prefer those who are friendly, helpful and easy going and get a good feeling I can trust them with my personal information. I'd work well with those types. Also people who don't mind going the extra length and effort to help me fumble along in an area I know nothing about. Trust me, as you can imagine I've already met a few who wouldn't fit the bill and I'd never recommend them to anyone.
     
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  10. Redom

    Redom Mortgage Broker Business Member

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    Generally brokers may/should be able to refer you onto a solicitor/etc and other members of your team. Brokers work day to day with other parties involved in the house purchasing journey and hence may have some suitable contacts in mind. Generally, in my experience, FHB often ask for recommendations here.
     
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  11. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    I have no issues with brokers referring but the op asked about 'help arranging' but perhaps she meant 'referring'
     
  12. Beano

    Beano Well-Known Member

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    Yeah but your hairdresser recommendation will be in Bangkok :)
     
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  13. AbleTasMan

    AbleTasMan Well-Known Member

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    I would but nobody on here seems to be from Hobart. I asked in another post about local mortgage brokers but didn't get any recommendations.
     
  14. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    for your stated needs, any locally well branded broker will suit fine

    ta

    rolf
     
  15. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    I think even a simple scenario can be stuffed up - high LVR loan placed with a lender with terrible cash out policy, no offset set up, salaries going into accounts not linked to offset, etc.

    You don't necessarily need the broker to be local - the brokers on here such as Jamie, the Twins, Rolf are excellent.

    I would speak to some forum members in Tassie and see which solicitors or conveyancers they have used for their purchases and then compare.
     
  16. Trainee

    Trainee Well-Known Member

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    your requirements conflict. You want someone to guide you and make sure everything is done since you dont know what to do, or someone who is laid back?

    If you are a laid back guy you WANT a pedantic, pushy person who keeps asking have you done this and that, what about this, and dont give up until they get a proper answer from you with evidence.

    laid back is what gets newbies in trouble around loans and legal matters and but i thoughts.

    the problem is that most people dont understand how the details and procedures are important.
     
  17. Depreciator

    Depreciator Moderator

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    A local broker will often know of a local building inspector or conveyancer, but you will need to make any arrangements. There are brokers who recommend us for Dep Schedules, but they leave it up to the clients to take it from there. If your broker ever says, 'Hey, I have this great property I think you should buy', be careful.
     
  18. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    NEVER use anyone recommended by a real estate agent that is selling you property. You want independence at each point of the process. This is how spruiker seminars work. Its just a lack of independence and is like swimming with sharks. Many scams are run by parties who work "co-operatively" and pat each others backs and each clip the ticket often aggressively.

    This is different to a referral by say your mortgage broker for a solictor as you dont know who to use. You want complete and total arms length dealings