I'm a bank manager of a Big 4 bank in a large full service branch.
I have a lending book of $750m and a full time Lending Manager working for me.
I also have several mates that work independantly as Brokers.
I've used a broker for my last 3 purchases, simply for convenience and the fact that they can get me what I want. As far as trailing commissions go, I couldn't give a shit what they make out of my loan, I pay a very low variable interest rate on my O/O loan so that's all I care about.
As far as loyalty goes, I'm not entitled to a cheaper interest rate as an employee, it's generally based on the size of the loan.
I'm looking at refinancing in the next 6 weeks, I'll go through a broker again.
I have a lending book of $750m and a full time Lending Manager working for me.
I also have several mates that work independantly as Brokers.
I've used a broker for my last 3 purchases, simply for convenience and the fact that they can get me what I want. As far as trailing commissions go, I couldn't give a shit what they make out of my loan, I pay a very low variable interest rate on my O/O loan so that's all I care about.
As far as loyalty goes, I'm not entitled to a cheaper interest rate as an employee, it's generally based on the size of the loan.
I'm looking at refinancing in the next 6 weeks, I'll go through a broker again.