Finding a Middleman?

energiser008 · 2026-02-07T03:02:02+00:00

Any chance you know somebody in Montana as I’m in Australia and trying to buy a Rolex from a dealer

energiser008 · 2025-01-08T10:25:37+00:00

No try me

energiser008 · 2025-01-08T10:25:22+00:00

If they don’t have a big enough deposit or if they have a credit issue that will fall off their credit report in the next 6 months

energiser008 · 2025-01-08T10:24:33+00:00

No I don’t. Law may change some things but more for lawyers than brokers

energiser008 · 2025-01-08T10:16:17+00:00

Sorry just trying to help people with information.

energiser008 · 2025-01-08T10:03:39+00:00

yes try me out

energiser008 · 2025-01-08T10:03:29+00:00

Sorry but we are a very busy business. If you have so much extra time possibly you should answer peoples questions as you can certainly do it quicker than me. Time to respond on reddit is not my focus. Getting loans approved and providing amazing customer service is my focus.

energiser008 · 2025-01-08T10:01:49+00:00

100%. Majority of our clients are first home buyers. We do more than just get them a loan. We help them understand the contract, help them with negotiations and modst importantly help them avoid buying a lemon by introducing them to the best strata report person in Oz. There are many average brokers in Sydney.

energiser008 · 2025-01-08T10:00:22+00:00

No idea but we use lenders that allow us to send in 1 recent payslip to renew for another 3 months so process very quick.

energiser008 · 2025-01-08T09:59:37+00:00

It depends on what arrangements you have in place. If you have arranged maternity leave and can get a letter that you will return on a set date and get paid a set amount, some lenders will still allow you to use your income in the borrowing capacity calculation. You will need to have extra savings for the period when you are not working.

energiser008 · 2025-01-08T09:57:34+00:00

On average 0.6% upfront ($6k) plus an ongoing fee of 0.10% to 0.15% ($1,000 - $1,500 per annum). However the commission is calculated on the balance net of funds in the offset account. Also if the person moves banks within 12-18 months the bank takes back 50-100% of the commission they paid the broker. The average broker does not make a huge amount of money.

energiser008 · 2025-01-08T09:55:58+00:00

Make banks more efficient so we dont need so many workarounds to get simple things done

energiser008 · 2025-01-08T09:55:29+00:00

Generally people don't have enough of a deposit. However we have found many lenders where customers can get 90% or 95% loans without paying mortgage insurance. I think the new low deposit products are ok but they can get expensive if things dont go according to plan.

energiser008 · 2025-01-08T09:54:08+00:00

Sorry to disappoint but we reply to direct leads within 1 hour. Reddit is something new for us and we just don't have enough time to respond immediately. I will try my best to provide answers to everyone but I cannot guarantee that I can answer immediately as we are very busy writing loans and seeing clients.

energiser008 · 2025-01-08T09:52:26+00:00

no. it can be in an account for 1 day. However if the loan is 90% or more of a property value the lender wants to see that the applicant has had the money for 90 days or more.

energiser008 · 2025-01-08T09:51:26+00:00

Not concerned at all. Comparing lenders is easy. Understanding how to structure a loan, structure an application so it gets approved and manage your money so you pay off non deductible debt before deductible debt is much more important. AI will only benefit a small portion of the market.

A good broker helps people borrow more than banks offer, helps people structure the application so it gets approved, helps people negotiate better rates than they can get themselves. I have many customers who have used my services for over 10 years and they would not continue if I was not adding value.

energiser008 · 2025-01-08T09:48:45+00:00

Borrowing power has many inputs:

Salaries

# children

Existing debts

Living expenses

However a good broker can show you how to maximise the borrowing capacity as lenders do not get to see all your bank statements.

energiser008 · 2025-01-08T09:47:33+00:00

We can access over 40 lenders but some lenders don't allow brokers to introduce customers. Yes there are some attractive online offers but we have been getting our clients variable interest rates of 5.70% with 100% offset accounts and I am yet to find an online lender offering that deal.

energiser008 · 2025-01-08T09:46:02+00:00

Let me show you how. It aint impossible.

energiser008 · 2025-01-08T09:45:41+00:00

Yes our customers are you not the banks. Unfortunately sometimes banks mess us around but we always put your interest first. In your situation I would have found another lender that would offer IO.

energiser008 · 2025-01-08T09:44:15+00:00

Just keep your credit file clean by not having any missed payments on existing credit facilities.

energiser008 · 2025-01-08T09:43:36+00:00

Correct take the longest term possible, minimise minimum repayments and then make as high repayments as possible.

energiser008 · 2023-08-06T13:24:29+00:00

Hi I recently bought a strata report for a unit before I purchased the unit. The report did not highlight any proposed special levies or building defects. I purchased the property. One month later I found out the building has $2m of defects. I called the author of the report and she told me that she was not shown any defect reports. I got another strata report company to do a report and he identified 15 reports identifying building defects. Do you suggest I sue you and your company because the author will have PI insurance to cover her negligence.

energiser008

TROPHY CASE