{"id":19921,"date":"2019-05-02T14:23:54","date_gmt":"2019-05-02T14:23:54","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=19921"},"modified":"2019-05-02T14:23:54","modified_gmt":"2019-05-02T14:23:54","slug":"should-my-lender-try-to-cross-sell-me-other-banking-products","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/should-my-lender-try-to-cross-sell-me-other-banking-products\/","title":{"rendered":"Should My Lender Try to &#8220;Cross-Sell&#8221; Me Other Banking Products?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p class=\"p1\"><span class=\"s1\">You may have heard or read about news regarding lenders trying to cross-sell other products to their clients. The news has raised questions in the mind of the public: Is this practice acceptable? Is it ethical? Or is it really OK to begin with?<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Believe it or not, <a href=\"https:\/\/en.wikipedia.org\/wiki\/Cross-selling\"><span class=\"s2\">cross-selling<\/span><\/a> is not always bad as you may think it is. When it comes to real estate, particularly in mortgages, cross-selling may even give you some notable benefits. Let\u2019s take a closer look at what cross-selling is and how you can use it to your advantage.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">What is cross-selling?<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">By definition, cross-selling happens when your financial services provider, like your agent, offers you a different product that you are not really looking for or have not inquired about. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">When it comes to mortgages, strict laws apply. You cannot proceed with your loan application if you have not received certain mortgage disclosures. These include disclosures concerning the loan terms, the line-item fees, the rates, and the cash that are required to seal the deal. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Despite all these, you will still encounter <a href=\"https:\/\/www.bigcommerce.com\/ecommerce-answers\/what-difference-between-upselling-and-cross-selling\/\"><span class=\"s2\">cross-selling within the mortgage process<\/span><\/a>. To get you familiarized, let\u2019s take a look at some cross-selling practices that normally happen during the mortgage process. <\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Lowering the mortgage rate<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">If you have a checking account that you will use to auto-debit the monthly mortgage payments, expect the mortgage lender to offer you a lower mortgage rate. But before you agree to any discount offer, make sure you have a firm grasp of how low-balance thresholds and fees work and affect your checking account. Moreover, you need to check if canceling the checking account will mean a spike in your current mortgage rate. <\/span><\/p>\n<h2 class=\"p3\"><span class=\"s3\"><a href=\"https:\/\/moneyfacts.co.uk\/news\/mortgages\/does-a-larger-deposit-always-equal-a-better-rate\/\">Larger deposits mean lower rates<\/a><\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">In the event that you choose to move your funds into asset management accounts or into new deposits right before you close your mortgage deal, expect the lender to offer you a lower mortgage rate. The offer, however, depends on the amount of money that you move. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Generally, your loan officer will guide you as to which rate discounts are associated with different levels of deposits. What you can do is to ask them if it is possible for you to combine the discount with your checking discount. <\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Pay your mortgage through credit card spending<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Lastly, if you decide to open a credit card line, your lender may credit a certain percentage of your annual credit card spending. Typically, the rate is right around one percent. If your lender offers you this, make sure you review the fine print in detail before signing on the dotted line. In the market for <a href=\"http:\/\/burgessgrouprealty.com\"><span class=\"s4\">Boulder Colorado real estate<\/span><\/a>, contact a team of trusted <a href=\"http:\/\/burgessgrouprealty.com\"><span class=\"s4\">Boulder real estate agents<\/span><\/a>. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You may have heard or read about news regarding lenders trying to cross-sell other products to their clients. The news has raised questions in the mind of the public: Is this practice acceptable? Is it ethical? Or is it really<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/should-my-lender-try-to-cross-sell-me-other-banking-products\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":19922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[15],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2019\/05\/finance-blog-image.jpeg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/should_my_lender_try_to_cross-sell_me_other_banking_products_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/19921"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=19921"}],"version-history":[{"count":1,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/19921\/revisions"}],"predecessor-version":[{"id":19923,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/19921\/revisions\/19923"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/19922"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=19921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=19921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=19921"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=19921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}