Cash Back Mortgage Broker

Hi,

Any recommendation for a good cashback (trailing commission) mortgage broker? I dealt with HomeLoancashback and that guy was very arrogant. Matesrates on the other hand asked me to provide all kinds of document and verify ID before even check my serviceability. Complete waste of time and money to do the verification and paper work before I was told I can't service it.

Comments

  • +1 vote

    Most cashback brokers deal with very standard lodgements. Because it's quick turnover that their business model is based on.

    If you have servicing issues (according to matesrates) you might need to start considering going to a hands on broker and focus on getting the loan rather than the rebate.

    Bear in mind you can't add their rebate back as disposable income for servicing - if that is why you are so keen in getting tailing commission rebate.

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    cashbackclub

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    go for upfront cash back rather than a trail commission..
    chop and change every two years.

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      Where can I find a mortgage broker that offer upfront cash back? I think doing it every 2 years has a lot of refinancing cost.

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        well financing costs vs trailing commission vs upfront will come down to your specifics.
        reviewing your mortgage rate every two years is feasible as new products come on the market -once again it is up to one's own circumstances and whether or not it is worth the cost…
        Naritas is one broker than usually provide $ upfront.

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    We used Naritas last Dec. We got $1500 cashback in woolies vouchers. They had cash refund for only one bank, which wasn't the best option for us rates wise. They do ask for set of standard documents. I found them quite thorough and professional.

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    Hi All,
    Sorry if the post is already closed we got our cashback in form of vouchers) from this broker. They pay based on the amount of loan settled through them.The value of cashback is $100 for every $150k in loan amount.
    Please pm me for more information.
    Moderators please delete if this is not appropriate post.

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    Results of your application process may depend on your background details, like cashback mortgage brokers usually care about what you do for living, why you need cash back etc. So, I reckon explore more on the market before you contact a broker straightaway.

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    We got ours through cash back mortgage broking and they were good. We get just under 60 a month into our offset account.

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