Browse Forums Home Finance 1 Sep 25, 2023 8:22 am Has anyone gone ahead with Mojo and used their in-house/preferred Mortgage Broker for finance? I am keen to know how this stacks up compared to using a mortgage broker that you already have a history of working with? Our Mojo Sales rep claims that by using their broker, you get some promotional perks such as Mojo paying for the loan interest during construction (up to 12k) and paying just a 5% deposit and nothing more until your new home is complete* Is it worth considering, or is there a catch? Thanks Re: Using your builders Broker 2Sep 25, 2023 8:59 am Falcon81 Has anyone gone ahead with Mojo and used their in-house/preferred Mortgage Broker for finance? I am keen to know how this stacks up compared to using a mortgage broker that you already have a history of working with? Our Mojo Sales rep claims that by using their broker, you get some promotional perks such as Mojo paying for the loan interest during construction (up to 12k) and paying just a 5% deposit and nothing more until your new home is complete* Is it worth considering, or is there a catch? Thanks That catch, much like the 0% or 1% finance offers for cars, is in the higher upfront price (usually). So look into that more closely - cost of upgrade are likely to be where they make up the costs so as to keep base prices competitive on the marketing etc. However if their pricing ends up comparable to your other options, its a good deal. Using your builders broker has a few benefits to both you and the builder. The builders broker arm will receive commissions from the lenders in getting business to them. Sometimes this is quite significant. Its an extra revenue stream for them. The main benefit to you is that their brokers will be across the exact requirements and pitfalls each lender on their panel presents, So should be able to help provide that advice when you choose your lender. I used my builders broker for the last place. He's been great and I've used him for several other services since. Re: Using your builders Broker 3Sep 25, 2023 9:31 am Broker here - legislation says that every true broker must put the clients best interests before theirs so in theory they must offer you the best options for you on their panel.
If all that stacks up, it's hard to knock back the bonus offered. If you smell anything fishy go back to who you trust Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building 0 2228 Site works are just about to start on our build with Blueprint in Midvale. viewtopic.php?f=31&t=106894 2 4145 Hi all, We are looking to build a new two storey house in western Sydney. Can anyone recommend a smallish builder to go with? We are trying to stay away from the big… 0 12427 |