Hi guys, i am about to purchased a property .
So the property agent recommend me a outsourced banker for the loan.
He says same as loan officer from direct bank. At least no need to run around few bank for loan, the outsourced agent can apply multiple bank for you.
So would u guys agree go for outsourced banker ? worry got hidden cost or need to pay commision to the outsourced agent.
pls advise, TQ

if there's any charges, conlanfirm they will tell u upfront, so just use je

and if u worry about commission, u try to think y they so eager to get work from u? cause u r the client/customer, and bank will pay the commission portion, not u

ok, just worry becoz not direct from bank scare kena scam..

dun worry, anything related will go through lawyer, and read the document properly before sign, if any question just ask, it's a few hundred thousand document, so if u have anything not sure u can just ask the property agent or the banker, cause they havent seal the deal, any question they oso have to entertain u

I personally prefer direct banker, I'm not shopping for veggies, it's a 35 years commitment, yes, can be tiring or overwhelming but better to be involved than not knowing anything. Another is that I don't like to share my data with strangers.

Deal directly with banker. Do not use Third party. Dont say never warn you before.

if your credit rating is weak or commitment high, outsource banker will know how to mitigate

Why is that, share what your finding ...

This is true, they got their way, but I bet it's between property agent n outsource banker , u help me I help u type. Maybe share abit commission among themselves...

i know a outsource banker that can approve loans even other banks reject, so yes they have some loopholes

Don't use them , if they falsified doc for u even without u knowing it u might kena black list from bank yr whole life.

I use outsource je..... no issue like boss hightechgadgets8 said easier approval , end to end settle include legal fees, mlta, etcs

So far no issue, bought a few , no extra charges

i think loan wise i.e. interest and approval procedure all the same.

just maybe the outsource banker's main target is to ask u buy insurance from him??

Agent so giat cos they got commission from the banker, not from you

oursourced bankers are not trained by the bank internally and might not be equipped with the legal implications of certain procedures but they do come in handy if you need to shop for best rate as they dont just represent one bank, so they are able to tailor something thats more fitting to your needs.

and they do know how to cut corners to get things done, at the expense of your risk

Makes sense.

Not true at all , those ppl are ex banker and they know how to game the banking system ( not in a good way ).

they can only game the system if the higher up from inside are colluding with them, for sure it will go busted in no time. ts is asking if outsource or direct is preferred mode, i then answered it really depends of whats the objective and the credit ratings.

I jus don't want to be Gamed later stage by bank pulak

if your credit worthiness is good, why need to use agent?

plus, what's stopping the property agent to submit the application directly to officers of multiple banks? property agent noob?

This post has been edited by Haters_Gonna_H8: May 27 2022, 01:16 PM

Usually they will hardsell insurance mrta/mlta/etc with ur housing loan. Thats where most of their conm come from. Housing loan comm is tiny actually for brokers

That why I say don't do it , go talk to any banker friend they can tell u alot horror story. If u kena blacklist by bank u won't even notice it one and no one will tell u . Only desperate ppl go for agency to get loan.

No commission why do free work.

last time i bought house the property agent got their own banker agent help to go through your documents. if they said approve likely bank will approve too.

Yup ... They do all the necessary and will ensure your loan pass.
Could be abit scary handing over personal documents to these outsource agent.

Yupp... This could be problematic in the future.

I were a outsource mortgage agent, to be frank we do everything according to the law and everything clean. There might be some hanky pank agent but I'm not sure.

We work very hard and much quicker than direct bank because we earn commission from bank for it, doing unproductive work = zero income. Basically, we are not as someone said will falsified your document etc as I don't want to go to jail also, we have to attend AMLA, KYC and alot alot more compliance stuff.

However, I don't social around, Im the type of people just do my stuff, there might be some agency who are hanky panky, then I don't know. However, you will have letter offer and lawyer, there is not much outsource agent can do to harm you, and I don't think there is any reason for them to harm you as well as you are not paying us a single cent, they just want their commission from bank then ciao.

It's the hanky panky ones that I am afraid off

Once in a blue moon I heard some agent will help their client to beautify their income, they will personally charge client for it.

If you are not paying them to falsify your document, why would they risk their career do that for free for you? I'm not the one that do it, I rather lost the case than going to jail because our principal(Maybank/OCBC/Hong Leong etc) told us once they found out falsify document, we kiss our ass to jail.

Like I said, you need to pay them to failsify your document, nobody in the world will do it for free unless you are their nemesis to frame you for fun.

However, I'm not sure who you are meeting with, so always proceed with caution.

Actually you walk in ask the bank staff also sell you MRTA also. That's how all bank make more money la.

I think the thing about going through 3rd party is just a matter of time Vs shopping around. A person who confirm can borrow may still need someone to help out to scout for cheapest rate from all banks.

I think just need to make sure the person reliable only

After mortgage broker submit for loan application on behalf, can I still submit application by myself to branch?

Not happy with broker intro by prop agent, never tell me any about package, rate and information for me to compare as originally promised.

Prop agent and broker just rushing me to sign LO.

Regret using broker.

This post has been edited by AhBoy~~: Mar 28 2025, 12:50 AM

They didn't give you the best rate?

Normally broker will directly give you the best rate.

Example a bank 3.25%
Bank B 3.3%
Bank c 3.4%

Result is the same not matter which bank U deal directly, but broker sekali deal with all them and give you the cheapest offer.

They just care which bank you sign with but they ensure it's the lowest rate. Even which bank give lowest rate also, they same get commission from bank.