Hi all, So I was discussing with some friends and family recently about my view of using brokers over direct lending, was hoping to enlighten myself and hear it straight from brokers and others alike who have experience in the area: 1) Can you usually negotiate better rates, product or flexibility and offerings direct than via a broker? GIven you have to be paid a commission surely the bank would be willing to take a cut of that commission and offer it back to you in return for going direct? Win-win for both of you in there eyes? Also what is the name of those brokers that return a portion of commission as part of their service? Any reason why the majority of these aren't popular over conventional commission models run by brokers? 2) Direct lending means your in control of what you're getting - is it the best offer? Any thoughts on this? I saw the argument both ways: a broker can offer a superior lending panel, but at the same time unless your micromanaging the process (why get a broker then) how will you ever know if the product chosen is most suitable or the best rate/product out there at the moment, versus the best one for them (commissions) or easiest to place you in? Not broker related but financing questions 3) Any reasons for submitting one loan application for land and preliminary building works contract as opposed to splitting the two? Personally (as in my scenario) coming up with enough LVR to avoid LMI is alot harder this way, and was discussing it with family and we couldn't come up with reasons why you can't apply for the land loan now, and the building in a few months time before the land settles? This would bypass the issue where 20% deposit is only assessed as per your cash balances at time of application (not available now) which isn't a problem in a few months time? 4) Pro's /cons in using LVR to avoid LMI versus incurring it and offsetting it against property income? Is the main purpose of purposely going LMI to take a hit now to ensure a deposit to purchase an additional property in faster time? 5) Is LMI proportionate? i.e. if you have a 19% deposit (short 1%) would you incur say $5k of LMI versus if you had a 10% deposit and paid $8-10k LMI? Basically wondering whether its best to either trigger LMI and lower your initial deposit (save it for next property) or if your close to it, do whatever you can to avoid it? If having a 19% deposit means only a $1-2k LMI as its proportionately reduced then it changes things quite abit. 6) Do lenders assess your first home buyers grant of $10k up-front for your LVR calcs? Thanks for any advice/feedback!