Was the mortgage broker’s invoice fair?
Corey believed the amount he was invoiced for mortgage broking services was not fair.
Topic: Financial advisers and brokers
Does your broker have to go above and beyond for you?
Tahi suddenly can’t afford her annual insurance premiums due to the impact of Covid-19 on her business and income. Tahi doesn’t think her insurance broker does enough to help her situation.
Confusion reigns
What happens when your mortgage broker gets it wrong, and does not correctly advise the bank about how you would like to structure your lending?
An insured’s duty of disclosure for replacement insurance
Alvin contacted a broker to get new contents insurance. Alvin forgot to disclose a past claim for burglary. Alvin complained that the broker did not advise him he had to disclose all claims.
The fine balance between affordability and unaffordability
At what point will a loan application be considered to be unaffordable triggering a breach of responsible lending guidelines?
Criminal convictions can catch you out
Non-disclosure of criminal convictions leads to a high excess, but does the broker have some responsibility?
Dragging your heels
Joe asked his financial adviser to arrange redundancy cover for him. However, the financial adviser delayed doing so for a number of months, by which time Joe had lost his job. Can Joe claim his lost wages from the financial adviser?
Communication breakdown
How far should a broker go to make sure that you know your insurance premium has not been paid, jeopardising your cover?
A speedy settlement
Two hours before Margaret was due to resettle her mortgage, she received a call from her financial adviser. The adviser told her she was going to be charged a $1,000 ‘clawback’ fee if she went ahead with the new mortgage. Should the adviser have told Margaret about the fee earlier?
Fungi Fiasco
A shipment of a product Yann ordered was quarantined and destroyed. When Yann tried to claim on his insurance for the loss of income and loss of the product, he discovered he was not covered. Was that the result of his broker’s negligent advice?
