Browse Forums Home Finance Re: Should you use a builders broker? 2Mar 05, 2014 2:48 pm It might sound a bit biased on my part however I would say not going to the bank and engaging a broker is a good idea. Now in terms of the builders broker, obviously the builder has a relationship with the particular broker and will be getting a kickback from them if you end up using them. What you need to contemplate is if the broker is good or not and whether they are working in your best interests, now and for your future goals. If you already know a decent broker use them, or if you have any doubt about the builders broker then you should engage another one. Cheers Tom Re: Should you use a builders broker? 3Mar 05, 2014 2:59 pm Can I ask why going direct to your own bank is a bad idea? I'm not disputing it, but as we have done just that and are waiting a response currently... I guess I'd be interested in the pitfalls. We naturally thought we'd be better off, having a great record of existing lending, all our accounts etc with them. Thread: viewtopic.php?f=31&t=66299 Slab: 16/6/14 Frame: 4/7/14 Roof: 22/7/14 Lock Up: 20/8/14 Fixing: 26/8/14 PCI: 9/10/14 Handover: 20/10/14 Re: Should you use a builders broker? 4Mar 05, 2014 3:23 pm I would choose the option of a broker that you choose not the builder. You can go to banks directly as a comparison but even with a good long bank history with 2 particular banks they had nothing special to offer us. BOQ were willing to drop interest rates etc even though we had no accounts with them. The broker we ended up going with suggested the perfect loan and accounts for our situation and with a bank that we never would of looked at ourselves. She also filled out the majority of the paperwork for the application. If you aren't good with forms and haven't applied for a mortgage before then I'd definitely say broker! They stick with you all the way through the construction phase and each progress payment. As with everything in life you need to be careful of the brokers that don't care about your situation and just want you to sign up with the bank that gives them the highest commission. By doing some of your own research and not relying solely on them you should hopefully be able to see if they are genuine. Re: Should you use a builders broker? 5Mar 05, 2014 3:48 pm Thank you everyone! I am happy with suncorp, but just wanted to see if I can get a better deal Suncorp are very easy to deal with I might just call a few broker's and see what they can offer I am looking at members equity bank, they seem to have good deals Re: Should you use a builders broker? 7Mar 05, 2014 5:43 pm I'm normally a big fan of brokers but have recently been put onto CUA, they do a fixed rate construction loan with offset account and you pay interest only on amounts you drawn down so if you're renting whilst you build it makes it more manageable. On the direct question of using a builders broker; expect there is some relationship there but they should be telling you about what commissions they receive. If they can offer a product that has the features you need and offers value to you, you may as well consider it. http://camdenbuild.blogspot.com.au/ by invite only please pm me 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 43732 That sucks! Hope it all works out. Good to move away from steel anyway for all your reasons, but it's also thermally poor. 16 13717 If what you describe is correct then the brick wall has been dry lined with villa board. That basically means that the villa board is glued to the brick wall with… 3 6096 |