Looking for a good mortgage broker in Sydney

Hi all,

I know there are a few very good mortgage broker lurking around the site. I am looking to buy a property most likely for investment but want to turn it into OO in the future. Does anyone know of a good mortgage broker in Sydney?

Thanks

 

What exactly do you need help with? Is it guidance around best structures or finding the right bank with the right product?

Brokers are great - only thing is that different banks offer them different commissions. This may potentially cause conflict of interest between getting you the best absolute option and their commission. When you get recommendations, ask for top 3 banks and more importantly ask why their making the recommendation.

I know because I’m a broker myself

 

Hi Duck

Read the posts and see who you connect with.

 

Majority of the time commission doesn't dictate what clients actually qualify for so I disagree with this comment, something that was thrown around during the RC by BANKS but in reality it doesn't work like that.

This is standard practice

ex banker by chance?

 

At the risk of leaving any of the good brokers in Sydney out, I've sent you a PM

 

Haha - pretty confident the 3 lender thing is a legal requirement.

Do you feel conflicted regarding commissions? I sure don't. They play zero role in any recommendation.

Kind of a weird thing for a broker to bring up, tbh.

 

Do you want to list the commissions by say the big 4
Lets see if that backs up your claim

 

Hey Duck,. There are loads of great brokers here, you're right . And some are in Sydney...

But all of them can work virtually also, so no need to limit by location unless you like to physically sit in their office.

 

would love to have a copy of that list as well cheers!

 

Would you be possible to send me a PM too? Thankssssss!

 

Silly post to get off the mark. But you've only been in the profession 5 months following a major bank role ... so you may not know better . I would agree there are plenty of lazy brokers out there in franchise world who are essentially order takers for major banks , but I would suggest you’d go a long way to find many brokers who operates on a commission first basis. Compliance is up the kazoo for everyone these days, and besides - the differences in comms are typically so tiny it’s hard to make the case they are any genuine sort of incentive to favour particular lenders , really.

And on this forum... doubt you'll find any lazy order taking brokers at all... several guns though

 

Hi Duck,

I'm sure all brokers here can do you wonders, but its more who you get along with the most.

working with a broker is long term, and if you feel like you get along with him/her then best look for another one.

So have a chat to a few.

 

There are plenty of great brokers on this forum, the standard is quite high here.

That said you don't necessarily have to use someone in Sydney though unless a face to face meeting is a must do in your process and helping you build trust. Most lenders and brokers are to conduct the whole process virtually with video / technology (perhaps one good thing to come out of COVID!).

I'd suggest have a look at the service guide (link below) and that'll be a good starting point in finding someone suitable as not everyone posts frequently either:
Service Provider Directory

 

Commission table at back of my credit guide. Differences are so small it really is negligible and not a factor in most brokers decision making when recommending a loan. The real conflict is where lenders don't deal with brokers or offer sub par service via broker channel but there isn't really anything the broker can do about that. We can only offer what we can offer.

 

Vivienne from Home Loan Experts.

 

Hi @Duck1234 Who did you end up going with? Feel free to PM me?

(I need to find a good broker too. Preferably based in the East or CBD.)

 

I’ve had clients use @Morgs with good outcomes. Based in the East.

 

I would like the list too please.
I'm a newbie to this. So are all brokers commission free to the applicant and just get paid by the lender?

 

I'm looking for a good mortgage broker not credit advisor.