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Any banks do not deal with bank brokers

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  • Any banks do not deal with bank brokers

    Hi, I am wondering any banks do not deal with bank brokers? From my memory, BNZ did not deal with outside bank brokers? But I do not know much in recent years, anyone please provides some information?

    For I put an offer for a property, my bank broker told me he can find a second tier bank (not major banks) or the finance company for a mortgage at 5% interest plus one off fees. I am wondering whether I can get a better deal than this by talking to some major banks who do not deal with bank brokers directly.

    many thanks
    Jason

  • #2
    You can try knocking at the bank doors but keep in mind the more bank's you apply for can have a negative affect on your credit rating which is why a "good" Mortgage broker can pre screen you before your credit is negatively effected.

    Must be plenty of broker's looking for customers since credit squeeze is on.

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    • #3
      I used ANZ who have their own brokers.
      I purchased last year and can not recommend more highly. He said he would get finance approved within a week and he did. And this was after an independent broker gave up and said it couldn't be done... ANZ broker I used was Lee

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      • #4
        Thank both of you @Jeffa and @Buzzair
        What
        is the name or contacts for the ANZ broker you mentioned? @Buzzair


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        • #5
          ^^ and was it before or after the CCCFA? You may find qualification somewhat harder and a longer process now.

          cheers,

          Donna
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          • #6
            Originally posted by donna View Post
            ^^ and was it before or after the CCCFA? You may find qualification somewhat harder and a longer process now.

            cheers,

            Donna
            after the CCCFA

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            • #7
              kakapp it was Lee Seeds - he is under the ANZ brokers on ANZ website

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              • #8
                Hi Jason! Great question. Most Brokers would be accredited with most banks (and non-banks) across New Zealand. I know that TSB Bank are no longer accepting new to bank broker accreditations (depending on which Aggregator the Broker is affiliated with) .. Kiwibank also have their own ‘in-house’ brokers. Most banks also offer a direct client service via Mobile Mortgage Managers – for example ANZ Bank and Westpac. In saying that though, it may take time to knock on each banks door yourself and each bank will only offer you the ‘products’ that they sell. Vs where a good Broker would make an un-bias recommendation, based on your unique needs and situation – they have a wealth of knowledge and they will help you with your application building and the best mortgage structure to suite your needs, even after the loan has been approved. Best of luck!

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