Broker or Straight to the Bank?

[Xplaya]

I am with 3 banks at the moment.
TSB ANZ WestPac

Westpac gets my income.

An opportunity has come up, and would just like some advice before i walk into my bank and mess up my first impression

I know of one Broker in Hamilton that I am pretty certain, is biased to ASB. Should I go have a chat with him first? And anything wrong with just going into the bank and discussing a deal? Im not really the best negotiator when it comes to this stuff.

The property in question will be off a family member.

Any help appreciated,?

[Learning]

In my experience the first deal is never the best deal. I've used a broker and negotiated direct with banks. If you can pitch one against the other (either two banks or broker v bank) you can squeeze out a little more, providing you have the time and patience.

[Xplaya]

In my experience the first deal is never the best deal. I've used a broker and negotiated direct with banks. If you can pitch one against the other (either two banks or broker v bank) you can squeeze out a little more, providing you have the time and patience.

Thanks Mate. In that case, I might try Broker first, and then use his pitch against my other banks. Just thought I see what others experience may have been first before going head first

[Xplaya]

On that note. Anyone know of a good Broker in Hamilton?

[Davo36]

Broker or Straight to the Bank?


Sounds like the start of a joke... in that

Should I go to a broker to get stiffed? Or straight to the bank?

[sidinz]

Thanks Mate. In that case, I might try Broker first, and then use his pitch against my other banks. Just thought I see what others experience may have been first before going head first

Glad I'm not the poor bastard you use as a broker. You're going to use his professional time and expertise then screw him out of a commission. What's worse is that you're planning to do it from the outset.

[Learning]

Glad I'm not the poor bastard you use as a broker. You're going to use his professional time and expertise then screw him out of a commission. What's worse is that you're planning to do it from the outset.

Are you admitting that you'll never get the the best deal from a broker? I've found that's not necessarily true. I once had a broker come back with a deal the bank, I was negotiating with, would only match so I went with the broker.

[Xplaya]

Glad I'm not the poor bastard you use as a broker. You're going to use his professional time and expertise then screw him out of a commission. What's worse is that you're planning to do it from the outset.

Not my attentions? I was kind of hoping on feedback from here and look at my options before proceeding as I have never dealt with a broker personally nor a bank about this before.

Feedback along the lines of stay away from a broker because of so and so, or don't waist your time with going straight to the bank go with a broker because etc.

From your feedback, I'm guessing a Broker will likely get me a better deal as they are professionals in this area to negotiate? I also didnt see anything wrong with going to my personal banking bank. But again, there may be something I missed or dont know about before hand hence why I asked on here first since there are alot of experienced people on here.

[GLin]

I have always used mortgage brokers with 5 banks I have mortgages with. Kiwibank is the only one I deal direct.

[Learning]

I'm guessing a Broker will likely get me a better deal as they are professionals in this area to negotiate? I also didnt see anything wrong with going to my personal banking bank. But again, there may be something I missed or dont know about before hand hence why I asked on here first since there are alot of experienced people on here.

As with every industry there are good, not so good and down right dishonest brokers. It's not until you compare apples with apples that you'll find out what you've picked.

[JBM]

I'd love to know how one structures loans with muti banks I guess as long as each bank has different equity one could get sharp rates... otherwise your'd be charged unsecured rates