Browse Forums Home Finance Re: Changing Broker 5Feb 18, 2009 6:09 pm A thankful person is a happy person. [/color]My hobby design blog: http://aviewondesign.blogspot.com/ Re: Changing Broker 8Feb 18, 2009 7:51 pm A thankful person is a happy person. [/color]My hobby design blog: http://aviewondesign.blogspot.com/ west sydney home loans 10Feb 24, 2009 12:27 pm I have received another question which I would like to answer here;
Quote: Question regarding Broker.; I have today inform a broker that I wish to discontinue his service. Then, he replied and stating that he will send me an invoice for the services so far. Can a broker send an invoice for discontinuing his service? I wasn't been told up front there is such thing. Our land was supposed to settle in Feburary 09 but hasn't yet settled. But, I was being very naive last year that the broker came and got me sign the loan contract in April 08. Way before the land settlement date. So, he is claiming that I have signed the contract, then I have to pay for the service. The short answer to your question is; he can send an Invoice but whether you have to pay it is another matter. If you signed an agreement with him in which you agreed to pay a fee for his services in the event that you found another solution after he completed his duties for you (i.e. he obtained you an Unconditional home loan approval), then he will try to recover that fee. If you have signed a loan contract, that is very different as you may have obligations under the contract. You need to check with a lawyer who will read everything you have signed so far. I have personally seen customers whose circumstances changed and they did not settle the loan (stayed with their current lender) after they signed the loan contract and they were not billed for anything by the lender whose contract they signed. I did not pursue them for any fees either even though they knew the commission for the loan is paid months after (and if) the approved loan settles. This is a judgement call, there is no point in pursuing something that will in most cases be seen as a "penalty" by the customer. It would be a lose-lose situation and I don't pursue it. I think in this case, you need to find and agreements you have signed and go through them, also ask the broker on what grounds he intends to send you an invoice. That would be a good start. 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… 2 46287 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 12152 Hi All, I'm new here! I'm in a block of 4 apartments (Waverley council) and looking to change a window to a sliding door. The window faces an enclosed garden (with a… 0 5668 |