What does my name and mobile number have to do with the mortgage rate?

What does my name and mobile number have to do with the mortgage rate?

Categories: Mortgage

I am going to admit right off the bat that I’m making a bad decision here. Something I shouldn’t do. But this for me is an interesting topic. I’m writing this post in the midst of what you could call a heightened emotional state. While I had gone through this exact scenario only last year, I continue to see this absurd behaviour continue in the industry!

I am not exactly pissed off, and neither am I perversely sad. But I am annoyed. And being annoyed gets my writing gears going. While this is not a rant, this is simply my point of view, and anyone is welcome to have their last say on this. But this is mine!

So here is the thing. Last year when my fiancée was looking for home loan for her investment property, I called this mortgage broker and asked him to quote me a home loan rate. The first thing he wanted to know was my contact details and then my name. It’s annoying because when I did this exercise I told this particular broker not call me or sell off my details. But my details ended up in the broker newsletter, and he kept nagging me for weeks. The fact is 9/10 times the first two questions mortgage brokers ask for will be my name and contact details (mobile and email) before they could tell me the best rate they could do for me. After that, I will end up getting calls forever and more.

This is one of the worst things in this industry. Mortgage brokers cold calling and trying to entice customers to something they aren’t prepared to do.

  • Why can’t I get a rate quoted without having to give my personal details?
  • What does my name and number have to do with the rate?

So here is my solution: LoanDolphin. It’s officially launched and auctioned over $50 Million worth of home loans.

For people like you and me

LoanDolphin can get the banks and brokers to fight for our loan without having to sell off our personal details and filling out different forms and senseless negotiations back and forth. This way we can be assured that we will get the best home loan rates in the market.

For brokers

This is a no-brainer. Customers who use LoanDolphin want to deal with someone who genuinely care about them. Bid with your best offers and give us a reason to use your service as opposed to others. You can provide the right product to the right customers, but most importantly at the right time with LoanDolphin.


Disclaimer: This blog post has not taken into account your objectives, financial situation or needs. Due to this, before acting on any general advice/information in this communication, you should consider whether it is appropriate to your objectives, financial situation or needs.

LoanDolphin

LoanDolphin is a home loan bidding marketplace where you get banks and mortgage brokers competing for your loan in just a few minutes. For free!