facebookRecently bought a private property & soon realised the property / banking industry is pretty messed up. Lack of info / irresponsible POCs etc. Anyone had similar exp? 🀨 - Seedly

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Anonymous

Edited 23 Oct 2021

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Property

Recently bought a private property & soon realised the property / banking industry is pretty messed up. Lack of info / irresponsible POCs etc. Anyone had similar exp? 🀨

Here's what we had issues with:

  • financial advisor wasn't transparent about the options available for us
  • disinterested in helping us come to a decision
  • Pushing for certain banks mortgage loan because it was "a better deal" but really for their own personal gain

We were also very vexed about what our options were since it wasn't clearly put forward to us. Frustrated at the lack of transparency and clarity on next steps, we did our own researching. end up we found lower interest rates for the mortgage loans (compared to what was presented to us by our FA). 🀭 we were not expecting that at all lol.

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anyone had similar experiences? How did you manage in such a situation?

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EC, private property, bank loan,

Discussion (2)

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Had a similar experience with an FA. So I went to speak to a few others too to get a better sense of what were my options.

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Also talked to mortgage brokers too (since they're more specialised with regards to property). Recommend you shop around... advice is free one. If you speak to 5 and 3 are saying the same thing, then you know you're onto something.

Never trust a salesperson. Conflict of interest. Do your own research.

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