This client applied for a loan through us for a Package Deal where they paid an annual fee but got reduced interest rates and no fees. The deal was submitted and approved without a hint that there was a problem but the lender then started charging fees without notice.

We challenged this but met with a brick wall when the lender said that there was nothing that they could do about it because there was a particular aspect to this loan that their systems couldn’t cope with.

After many emails between the lender and ourselves, they decided to firstly reduce the interest rate and stop charging the monthly fees. After more emails, they decided that they would backdate the reduced interest rate and after more emails, they decided to fix everything up from the start and reverse the fees.

The point with all of this is that these were not clients who were in trouble or couldn’t get credit and yet by being pro-active, we have saved them thousands.

So …… next time someone tells you that they don’t need a broker, just ask them how will they know if they’re being looked after!

• More Fixed Rate Drops
• PLAN Lending Fixed Rates Reduced
• Should I go for fixed rates?
• What is Mortgage Insurance?
• Buying At Auction
• Reserve Bank Speech
• Changes in NSW Stamp Duty
• Increase the odds of getting your home loan approved
• Fixed Rate Special Deals
• New or old investment properties

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