This post has nothing to do with any mortgage brokers on this forum, who I consider have been very generous with their time and information and clearly professional However, From my personal experience its interesting I have used at least 5 MB over the years and when I moved its because I got stuck and the new MB could not get me what I needed. I think it could be because the new broker can tap into a different product, or perhaps is willing to go outside the square Finance in particular in current environment can be challenging A recent scenario, an investor I know could not source as much money using her current MB, moved onto another MB and got what they needed Food for thought
Generally I have found that MBs just want low hanging fruit. Anything out of the ordinary payg and they ain't interested. Occasionally there I see an MB with a personality type that wants to chase every lead, unfortunately most of these also will fill in the forms optimistically just to get there.
Can't remember the last time I had a 'low hanging fruit' deal, vanilla deals we call them, - if that's all a broker goes for they wouldn't be in business very long in my opinion. In my experience it's the bank lenders that can't handle anything outside of the box.
I can't remember the last time a broker didn't say that. Times have been good, wages increasing, interest rates falling and many PAYGs buying and refinancing. If you are self employed, not interested in earning more money just to pay taxes 99% of brokers are useless. Given my experience is only 30yrs long and based mainly in Sydney
What you've stated here is a serviceability issue and not a broker issue, if you're self employed and unwilling to increase your taxable income because you want to reduce your tax bill that's on you NOT the broker's fault. Lenders set the policy on what they allow to be used for addbacks for serviceability, brokers have to work within that. 99% of my clients are self employed.
I don't recall saying "unwilling". That's your made up word. I wonder if you make up stuff when you fill out forms for others. Being self employed means your income can be increased or decreased as conveni
I don't BS on my applications and I never have, my current aggregator audits my applications every month so I can say confidently I've never done what you've stupidly suggested. So my point of being 'unwilling' is correct, thanks for confirming, and it's not a made up word, check the dictionary. Seeing as you've gone for personal attacks rather than focusing on the facts I stated in my previous reply to you, I'll leave it at that, all the best to you
I often have reason to ask clients if they have a good broker. I never seek to change or influence their choice if they are happy BUT occassionally I encounter a client who thinks they have a good broker but says things I find a concern. eg Yesterday a client with several loan splits wanted to check if his (new) broker suggestion to consolidate all the loans into one was thinking correctly. I was horrified.
