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Recommending a mortgage broker in Canberra?

By 30 November 2010 29

i know we’ve had advertising features from mortgage brokers recently, but i was wondering if the riotous hive mind can recommend a particular broker, noting why; or steer me clear of one, also telling me why (without, of course, being too slanderous…)

thanks hive mind – i always get the buzz you send…

;)

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29 Responses to
Recommending a mortgage broker in Canberra?
Mobsta 2:22 pm
30 Nov 10
#1

So far have bought two houses through John Osbourne of Mortgage Choice. He is a top bloke who knows the industry inside out. Also, I got a couple of indepedant people to assess the mortgages he found for me and they turned out to be the best possible ones on both occasions.

It should be noted that it’s kind of a free service as the lender ends up paying the broker.

Clown Killer 2:37 pm
30 Nov 10
#2

+1 for John Osborne from Mortgage Choice. Financed a couple of purchases with Johns help.

ainsliebraddon 2:40 pm
30 Nov 10
#3

David Shaw from LJ Hooker Financial Services was great. He works out of LJ Hooker in Civic. You don’t need to be buying or selling with LJ Hooker.

misspris 3:37 pm
30 Nov 10
#4

Lisa Brown from Westpac Cowra is a mobile lender and I can’t recommend her highly enough. We were completely arsed about by Westpac Goulburn and then a friend recommended Lisa who had us approved in under 24 hours. Her number is 63801158.

Pris

shelley22 3:37 pm
30 Nov 10
#5

I highly recommend Paul Johnson Financial Services enough :) 6299 3765

shirty_bear 3:47 pm
30 Nov 10
#6

We used Scott Patterson at Aussie Home Loans in Civic; nice guy, knew his stuff, didn’t make any blunders. For mine, that’s about the best you can hope for. Also cost us zip.

Braddon Boy 4:03 pm
30 Nov 10
#7

Lighthouse Finance. They are a small Sydney based firm run by a couple. they travel to Canberra regally for clients and other reasons, such as seeing their family. So there is plenty of opportunity to see them face to face.

Know their stuff inside out, and are very passionate about it all. They are really friendly and patient/understanding if you don’t really know what you’re doing. We brought our first home with them and they held our hand the whole way through.

They include property evaluation, negotiations, represent you at auctions etc. as a part of their standard service.

sarah.joy.1988 4:38 pm
30 Nov 10
#8

I recommend David Bryant from JV Financial Group. http://www.jvgroup.net.au (02) 6257 6800. Located in Canberra CBD. He has no ties to any banks so he can search for the best product.

kschoey 5:26 pm
30 Nov 10
#9

- 1 for John Osborne from Mortgage Choice. I have used him for both of my house purchases. While I can’t fault the product I received in both instances, it came with a lot of stress involved!

He seems to be extremely risk averse and asked for information above and beyond what I think is reasonable. This included statutory declarations from my parents saying they would give me money towards stamp duty when I had the $$$ saved up, far more financial details from my husband than was necessary which caused delays in the process and to top it off the last time I used him to purchase our current property, before the old property was sold, he said it would be better if we used the old property as security over the new one which required 2 mortgages. We sold the other property quickly and paid out the old mortgage which resulted in a heap of early exit fees which he did not explain to us. When we spoke to our lender, they couldn’t understand why it had been done this way – they said they would’ve loaned us the entire amount in one go. The only reason we could think of for doing the 2 mortgages is it would mean 2 commissions to John.

At times he was extremely abusive to me, calling me at work and reducing me to tears. He was also abusive to my husband.

Can’t fault Mortgage Choice head office though. Or the lender we went through. In the end all of our fees etc were refunded.

In terms of all of the extra financial details, in the first instance, I had been in secure employment with the same employer for 4 years, had a 5% deposit and was eligible for the first home owners grant. Second time round, same employer for 10 years, other property with a great deal of equity in it that was up for sale anyway and significant savings. Husband had been with same employer for 5 years.

gp 10:18 pm
30 Nov 10
#10

Call Westpac Mortgage Centre. The best service I got in any loan was by a guy called Byron Allen somewhere in WA. He called back when he said he would, and busted a gut trying to make sure I could make the payments, and be happy with the product. I love to bash banks with the best of them, Westpac included, but this guy was great. Ask for him especially.

Ph. 131 900

CoffinRX2 10:21 pm
30 Nov 10
#11

phil smith from Clarity Home Loans

2604 10:43 pm
30 Nov 10
#12

I recommend doing your own internet-based research and then dealing directly with lenders.

Ultimately, there is no guarantee that the offer a mortgage broker brings you from a certain lender is the best offer available from that lender. In fact, given that mortgage brokers are a highly expensive distribution channel for lenders – levying a commission equivalent to 0.3%-0.5% of the borrowed amount – I suspect that lenders would do as much as possible to encourage people to apply directly to them, including by offering better rates and lowering fees. If you absolutely have to get a quote through a mortgage broker, you should at least ring the lender in question before you sign the broker’s documents, confirming that they will not offer you a better deal for dealing directly with them.

Also, DIY only takes a couple of hours. Anyone who can’t be bothered dedicating a couple of hours to something as important as a $3-400,000 loan isn’t ready for the responsibility of property ownership.

LSWCHP 11:24 pm
30 Nov 10
#13

2604 said :

I recommend doing your own internet-based research and then dealing directly with lenders.

+1 on that.

I went through an “independent” mortgage broker (naming no names because a lawsuit would undoubtedly ensue) when I bought a house 5 years ago.

She recommended a package from A Big Bank with glowing enthusiasm, and we signed up to it. She then immediately disappeared off to Melbourne to attend a training course in mid-deal, and turned off her phone! No contact could be made with her. The whole deal would’ve fallen through, except for me being able to call on the help of a friend with contacts at the bank. She arrived back on the scene after the deal had been closed without her assistance, and started asking for payment! We told her to bugger off, and never heard from her again.

A couple of months later I walk past the bank in Belconnen Mall, and see a big poster with her smiling mug on it advertising her services as the banks new mortgage expert.

In summary, I would drink a schooner of ice cold vomit before I’d go to a mortgage broker again.

Amanda Hugankis 11:24 pm
30 Nov 10
#14

Gary Rock @ LJ Hooker Kaleen. Generous with his time and knowledge, referred by a friend, who was referred by another friend, etc. No pressure, organized the paperwork. Any issues post or during mortgage, he is happy to discuss matter and support you, following up with his contacts inside the particular bank. Helped me tear strips off Bank West 15months in.

GYW 12:01 am
01 Dec 10
#15

I also found John Osborne from Mortgage Choice to be great. As a first homebuyer with no idea where to start, I appreciated that he explained everything to me clearly and gave me lots of tips. He hassled the lender for me when they delayed horribly due to a backlog in applications and I feel sure I would have missed out getting the house I love without him and his staff. Nearly a year after the sale I had to ask him for some copies of documents and he was his usual helpful self. And he sent me a lovely gourmet gift basket after settlement. :)

AHornbag 7:51 am
01 Dec 10
#16

Craig Butt from Loan Market is fantastic! Very professional, from home loans to personal loans to general financial advice, he really knows his stuff. My husband and I wouldn’t deal with anyone other than Craig. He is located in Townsend St in Phillip or he comes to you. His phone number is 0419 982 061. Best of all – he’s FREE!!

astrojax 8:12 am
01 Dec 10
#17

thanks hivemind, these are great. do keep ‘em coming…

and while i don’t disagree, 2604, that a couple of hours is not too much to dedicate to the cause of home ownership, we also feel that the broker’s years of experience can also impart corollary knowledge a few hours on the ‘net won’t [hard to believe, i know...]

:)

Claymore 8:45 am
01 Dec 10
#18

I highly recomend Julianne Brewer (provimcial Home Loans – http://www.juliannebrewer.com.au/index.htm ). She is completely independant and was a great source of information during our purchase.

Being from another state, she helped us negotiate the seemingly strange way (to us) to purchase a house in the ACT.

Dome 11:05 am
01 Dec 10
#19

I used Alex at Beta Finance in Hobart Place. In fact I’d done my research and was going with my current mortgage provider (for the new property), and was referred to Alex by them – really they’d outsourced their paperwork to him I guess.

Anyway, on the basis of his work on our behalf, I’d assume he’d be just as good when starting from scratch.

2604 9:53 pm
01 Dec 10
#20

astrojax said :

and while i don’t disagree, 2604, that a couple of hours is not too much to dedicate to the cause of home ownership, we also feel that the broker’s years of experience can also impart corollary knowledge a few hours on the ‘net won’t [hard to believe, i know...]

Years of experience doing what exactly? Ringing banks to get a quote? Working out whether a $400 loan application fee is better than a $500 loan application fee? I can’t think of anything a mortgage broker does that you need to practise in order to do well. We’re talking about shopping around for a pretty basic financial product, not performing brain surgery.

Besides, how many mortgage brokers actually have “years of experience”? Many have only been in the job for a year or two and prior to that worked in fields that had nothing to do with property or finance.

2604 9:54 pm
01 Dec 10
#21

…like being a youth worker.

astrojax 11:22 am
02 Dec 10
#22

um, hmmm… yes, point taken, 2604!

;)

JMDubya 8:30 pm
03 Dec 10
#23

Second for Dave Bryant & JV Financial Group!

He has looked after my parents mortgages over the years and just helped me buy my first home!

He is friendly AND professional, something that seems to be lacking in the industry..

xJMD

ummmm_no 11:46 pm
03 Dec 10
#24

- 1 for John Osborne from Mortgage Choice.

“He is a top bloke who knows the industry inside out.”

There is a lot of bluster and BS in his attempts to foster an “It’s us against them, without me you’ll be screwed” sort of vibe. If you have a relatively simple case (say, if you’re an academic, pube, or anyone else with a long-term contract), you’ll be fine without a broker. If you have a complicated case, because you’re self-employed, have a short credit history, or whatever, the amount of paperwork will be basically the same whether you do it through “him” or do it directly.

He understandably relies on support staff for a lot of what he does, but he’s very quick to blame them (“Sorry mate, but…”) when something goes wrong. Sorry dude, but you chose your staff, you take the responsibility.

Similarly, he’s quick to blame the lender’s staff for delays. Sorry dude, but you recommended this lender…

If I ever return to Australia and decide to get back into the Canberra market (say, if prices start to look more reasonable versus the south of France, Vancouver, SF, or pretty much anywhere else), then I’d try my luck going direct to the lender, and only rely on a broker if it became absolutely necessary. Ain’t no such thing as a free lunch.

georgesgenitals 5:53 am
04 Dec 10
#25

2604 said :

…like being a youth worker.

Being a mortgage broker isn’t exactly difficult, you just need to know your market. As for Racheal being a youth worker previously, I think that would be desirable, as it indicates the person is more likely to have decent moral standards (I’ve dealt with one mortgage broker who really, really didn’t).

At the end of the day, most mortgage brokers use a software package to assist them, fill out forms, and chase other parties up for you. Which is exactly what I want them to do.

goggles13 12:50 pm
27 Jan 13
#26

digging up an old thread.

we are looking to refinance, mostly to get rid of a large credit card bill which in my mind is going to be virtually impossible to get on top of.

we are doing ok with our other personal loans and mortgage.

does anyone know if any banks or credit unions will refinance when the credit card is over its limit and there is no way of getting it under the limit in a short period of time?

should I contact a mortgage broker? if so, who is recommended?

saraphine 6:44 pm
28 Jan 13
#27

brilliant riotact ! thanks for the answers to “mortgage brokers in canberra” although dated back in 2010. i have learnt heaps. my first time buying a home…yikes.

Madashell 9:46 am
21 May 13
#28

I have been a Westpac customer for a very long time and went to the Petrie Plaza branch (the closest) to be told that they “certainly could not match the deal we were offered at Commonwealth”. They seemed to have the view that it was not worth our while changing banks but we were about to change because the idea of being shafted by our own bank was just too much for us. I then read this forum and noticed that Lisa Brown from Westpac had a big wrap so I rang her and it was suddenly a different world where you were treated like customers rather than scum. Just goes to show that it may be the people rather than the bank that make the difference. If you bank at Petrie Plaza – good luck with that!

allyroger 10:08 am
21 May 13
#29

I can recommend David Gawthrop absolutely 100% from Tiffen & Co in Kingston. Really knowledgeable and great service. I am going to see him tomorrow to talk about fixing part of my mortgage.

http://www.tiffenandco.com/staffprofiles/david-gawthrop/

0438 553 756

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