Songshi Quan
Brisbane, Queensland, AUSTRALIA
Joined September 1st 2008
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- Puffy-Lion Dog...name says it all.
Recent CommentsComment by Songshi Quan
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Comment by Songshi Quan
on Banks launch assault on Mortgage Broker market
You see this with other industries (Woolworths vs the local baker, butcher, grocer). In areas without one of these services there is anecdotal evidence that large businesses will milk every bloody cent they can out of the consumer.
Need I draw anyone's attentions to what home loan interest rates were before Mortgage Brokers became well known?
Trust me, the Banks would love to kill off the Brokers. If that service wasn't there, where would a consumer go?...direct to the Bank of course. The Fat Cats in the upper echelons would be rubbing their lucky bellies with glee over that one.
As a consumer, I wouldn't mind paying a little bit extra to obtain a mortgage with an Institute that actually rewarded it's Brokers with renumeration comensurate with their work and abilities - not a Bank that decided they can live off a deep lungful of air.
After all, how could you trust Westpac, Commonwealth Bank, NAB, St George and Suncorp not to shaft you once their done grinding the Broker's into the dirt?
But then again, I'm sure the Banks wouldn't do that to their customers. After all they have passed on all the interest rate cuts the Reserve Bank have put in place.
Oh wait a sec....no, they didn't.