Book a Mortgage Choice Appointment and Get a Free $50 Coles Gift Card

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Mortgage Choice

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  arcticmonkey on 20/01/2010 - 17:44

  How long do these appointments typically go for?

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    stumo on 20/01/2010 - 19:20

    Around 2 years in my experience with them, they just don't leave you alone.

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  vxe007 on 20/01/2010 - 17:54

  Good find hope not scam.

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  moooooooo on 20/01/2010 - 19:16

  I've just been dealing with Mortgage Choice for the past 2 months (settle on a new house in a few days). I've found the experience of going through a mortgage broker to be one of the most frustrating financial trials in years. I did all the paperwork for my first house and thought getting a mortgage broker would reduce the load this time round. It's actually increased the load, I think. Everything relies on me telling them to tell the bank something then the bank tells them the answer and they tell me. It's like Chinese whispers except any inaccuracy leads to thousands of dollars of expense. I'm going to go back to doing it myself next time.

  The other thing to consider is that banks update their loan conditions all the time but may not update the information sent to mortgage brokers at the same time. We've found three inaccuracies in the information originally given to us. All have the same outcome - we were told there was no fee but there really was a fee. I'd have known in advance if I did it myself via the bank websites.

  If you want to use a mortgage broker because you're entirely uncomfortable dealing with finances, this is a good deal since you'd need a broker anyway. If you don't need to get a broker involved, I'd recommend letting the $50 slide and save some pain.

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    Tiger on 20/01/2010 - 21:41

    Sounds like you got a dud Broker. Not all Mortgage Brokers are as unprofessional and irresponsible as the one you found. Mortgage Brokers have access to product information through specific websites which the general public cannot access - your Broker should have checked his/her facts on fees before advising you. Simply blaming the Bank is not good enough as the Broker would have recommended the Bank in the first place.

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      dragonrabit on 20/01/2010 - 22:57

      Hmm, Tiger, this is my previous exp when i was working in this industry. As you understand, every bank has so many products, and every bank has their own rules. So impossible for mortgage broker know every single products on every single lender.

      Majority of them knew where is the cheapest rate. And they might knew well on certain products only (where most of the time they sell this same product).

      May be there is super genius mortgage broker that remember every single product features that he/she sell. but it must be very rare mortgage broker like this on the market.

      My past experience, same as mooo said, client ask their mortgage broker, then mortgage broker try to get answer by calling my company, then back forward like this many times, until the client enough then they call to us directly.

      Cheapest rate only doesn't mean the best product, sometimes with standard rate but you get special deal with your lender, you can beat the no frill home loan. It is depend on your loan amount and your negotiation skill.

      I have seen some of my clients got 1% discount without joining any professional package or what ever package that lender said that can reduce your interest but still charging you with yearly fee.

      But again this is not for everyone. The key is negotiate with your lender. it might takes time for shopping around. but it is worthed when you get the bargain.

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  No on 20/01/2010 - 19:26

  I used Mortgage Choice and they where fine.

  I hope people aren't rude enough to waste there time (and yours!) for a $50.00 voucher if you have no intention of getting a mortgage with them. I expect it'd take an hour or two.

  If you are seriously looking for a mortgage $50.00 is nothing in the overall amount you are going to spend, $500.00 - $1000.00 voucher on settlement would be more like it.

  If you are in a reasonable financial position & don't need low doc etc I would just go for someone like myrate.com.au (ING) or onedirect.com.au (ANZ).

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    hanofee on 21/01/2010 - 10:06

    I'm with onedirect, they don't accept any new loan (got a letter a couple of months back), though they still keep the existing one.

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      RandomNinja on 21/01/2010 - 11:03

      Strangely they haven't mentioned anything on the website… as far as I can tell, it looks as though they still offer home loans.

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  [Deactivated] on 20/01/2010 - 19:29

  The site says "Simply have a chat about your home loan options with your local Mortgage Choice broker and you'll walk out^ with a $50 Coles Gift Card. With no obligation to take out a home loan".

  You're only having a chat, not signing up for anything.

  I'm guessing the meeting would go for over an hour. Might be better to do an hours overtime at work?

  Good post though Kellerd.

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    dragonrabit on 20/01/2010 - 21:14

    hmm, not really have a chat. they will call you, do small survey, then they will ask u bring your paperwork as well. so it is not really small chat to be honest

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  browser on 20/01/2010 - 21:18

  Reminds me of those time sharing schemes I used to go to in exchange for free Disney World tickets (back in the uni days).

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  mjs on 21/01/2010 - 07:55

  Reading the comments, you'd assume this deal was voted down… Agree, not worth the effort.

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  CyberMurning on 21/01/2010 - 08:57

  i just found out 1 of their office is just 3 mins walk from my office. if i can drop by during lunch and get $50, i think its good enuf -

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    dragonrabit on 21/01/2010 - 11:12

    not sure if u can have short chat with them, they will ask you to bring all the documents such as your bank statement etc

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      mini2 on 21/01/2010 - 20:38

      Spoke to the person I was going to meet but his wankerish attitude just puts me off…what, want me to get a pre-approval done after your software spits out some sort of numbers telling me I should get this loan?

      Thanks but no thanks for the $50 voucher.

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        dragonrabit on 22/01/2010 - 22:10

        just meet the broker today, after done my application, forgot to give me the gift card :)
        but this mortgage broker confirm my first suspicious, if you need restructure your loan or apply new loan, please contact with your mortgage broker again, and if you don't just ask general question please call the lender directly. no wonder a lot of piss off with mortgage broker.
        and no wonder when i was working with my old company, i got so many client complaint to me about their mortgage broker. hahaha

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  RandomNinja on 21/01/2010 - 09:05

  It's a bit of effort granted, but for those in an existing mortgage and haven't reviewed for a while, it probably wouldn't hurt to let these guys look over what you've currently got and comparing to what the market is offering at the moment.

  My company provided a free financial advisor consultation last year and I went through the different mortgage options available at the time. As it turns out, there was nothing better she could offer and it certainly gave me a good feeling to know I already had the best deal for my needs (the Ozbargainer in me made sure of that)!

  If these guys are offering $50 and potentially saving you thousands of $$$ in the long run, it probably wouldn't hurt to see what they can do for you.

  In terms of time, the consultant I dealt with (diff. company) had all the info on her laptop and we reviewed all of the current mortgage options within half an hour. If the Mortgage Choice guys are as organised then it could be a pretty quick process.

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  dragonrabit on 27/01/2010 - 23:43

  they just changed the term and condition

  Terms and eligibility conditions of offer:

  To be eligible for an appointment and the Coles Gift Card offer, recipients must able to demonstrate full time employment of at least 6 months in their current role, have 5% genuine savings of the proposed purchase price of the property or equity in an existing property, and no credit impairments.

  Customers that have previously settled a home loan with Mortgage Choice are not eligible. 1 voucher per household. You must attend an appointment with a participating Mortgage Choice broker on or before 28 February 2010 to be eligible to receive the $50 Coles Gift Card.

  ^The Coles Gift Card is available at appointment in New South Wales, Queensland, Australian Capital Territory, Victoria, Tasmania and Western Australia. In South Australia and the Northern Territory, the Coles Gift Card will be mailed to recipient within 14 days of attending the appointment.

  The $50 Coles Gift Card is not transferable for cash and bound to conditions of use.

  Coles Gift Card redeemable at: Coles supermarkets, Coles Central and Pick ‘n’ Pay stores. This card cannot be redeemed at Coles Online or Coles Express. For full Terms of Use visit giftcards.com.au or phone 1300 304 990.