Chris Bates
speaker
1,659 appearances
5 recordings
1 series
first heard Jun 2021
last heard Dec 2022
Chris Bates’s voice in public audio — every appearance, attributed to the second.
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Appearances
And I think it's right.
We've had very limited clawbacks issues.
In seven years, the business is almost running now.
The reason is if a client does get a better deal or something else, we just go to a different bank.
So maybe we have a clawback, we go to another bank.
It's unlikely you're going to want to swap banks in 12 months anyway.
So some brokers who potentially haven't got the best experience, the client really wants to get out of that broker anyway or realizes it's not the right lender.
That's where brokers like that do get clawback issues.
Clients are so savvy nowadays and so you should be right like that's Google's your friend type in best rate you can very you know so much media out there around rates RBA reports on an ABS so
People can figure out what's a good rate pretty quickly.
And so if a broker is not offering you a close to best in market product or justified to why you had to use that bank over another bank, consumers switch on pretty good.
So the lazy brokers out there that are just working with the bank they're comfortable with, consumers will figure that out pretty quick.
So you've got to be good to be a good broker long term.
Comparison rate is a little bit like stamp duty.
It hasn't really changed for a long, long time.
And it's the comparison is based on $150,000 loan.
Now I'd love to
I think most properties were $150,000 or $200,000.
But good luck finding out there's some big property spruikers out there that like to buy properties like that.
So that's what it's based on is $150,000 loan.
Showing 1181–1200 of 1,659 · page 60 of 83
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