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Mortgage Broker Melbourne

Mortgage Broker Melbourne

4.9 from 132 reviews

Failed expectation.

I decided to use Mortgage Broker Melbourne based on good reviews online. Well. I'd better not to do this. I had a very simple task: refinance single mortgage with 70% LVR (which mean no issues with insurances, approvals, etc) into another bank and complete 2 (yep, just two) payments to third parties. Two simple EFT.
Settlement was delayed by nearly month since formal approval which cost me extra payments. But that was OK.
At the day of settlement bank were not able to process as they "did not have enough funds", what we did find out is that broker didn't send updated documentation to the bank. Luckily he was able to do it within settlement day.
After settlement I found extra $500 charges on my account, while at the beginning I was told that this refinance will cost me zero and bank has a $1200 "welcome" package to cover transfer cost. The broker "forgot" about those extra charges and no pack were available.
The actual settlement was $950 more than originally planned.
After all, several business days later, I found that none of third-parties got any funds. After chasing the broker for two days I found that bank issued _paper_ cheques, because they not able to do EFT.

So now I paid extra $1400 in fees and charges and none of third-parties got funds as I still need to process cheques at my own time and my own expenses.

You probably will be beneficial from them only if you don't care about couple grands loss in fees and extremely busy so you not able to do basic online research and elementary math. On my own I would make much more easier refinance.

3 comments
We are very sorry you had a poor experience. Bank delays are frustrating but there were aspects of your transaction that were under Tobe's control that definitely could have been handled better. We are grateful for your comments and will use your feedback constructively to improve our service in the future. Please don't hesitate to let us know if there is anything you feel we can do to make amends. Yours Sincerely, Marc Barlow, Principal, Mortgage Broker Melbourne.Just a quick update - they supposed to get in touch after one year to review if product they sold is still fit for purpose or anything else is required. As you can imaging - they didn't bother to do this. Not that I willing to make any business with them any way, but as long as my mortgage at is CBA locked to them - any changes I want to do - have to be done through the company. So it's mean that I will have to move my mortgage away from CBA to cut them off payments they are getting for keeping my account on file and to regain full access to mortgage changes and details. I have no idea how much it would cost me but... not much choice.Hi Mike, once again we apologise for the experience you had. Based on your feedback we have improved our processes around refinances and we thank you for that. We reached out to you at the time through this platform but heard no response so we assumed you would seek alternative arrangements for your home loan next time. We wish you all the very best in the future and please let us know if there is a way we can make amends somehow. (Tobe would be delighted to review your home loan if you wish). Yours Sincerely, Marc Barlow, Principal, Mortgage Broker Melbourne.

Questions & Answers

Hi My name is anita I am working in Canberra in nursing home and my husband works in Melbourne I was also in Melbourne just moved last year .my land in Melbourne need a loan for land .went to bank they said it’s hard to get approval .is there any chance? Thankyou
1 answer
Hi Anita, Thanks for your enquiry! We'd be delighted to assist but would need to gather a bit more information if that's OK? Could you please email me at info@mortgagebrokermelbourne.net.au and I can send you our quick fact find questionnaire? Best Regards, Marc Barlow.

Hi Looking at buying a home within the next 6 months My husband and i would like to know how much we can borrow? Deposit needed ? Thanks Kathleen
1 answer
Hi Kathleen, Thanks for your enquiry, we'd be delighted to assist! Could you please email info@mortgagebrokermelbourne.net.au so we can help answer your questions and guide you through the process? Cheers! Marc

Hi there does your service also do refinancing services in Brisbane?
1 answer
Hi Tom, absolutely we can! Please call 1800 111 626 and we can start the ball rolling.

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