MPA’s Top Franchise Brokerages on how their clients have been hit and what they’re doing to respond
MPA’s Top Franchise Brokerages on how their clients have been hit and what they’re doing to respond
MPA’s Top 10 Franchise Brokerages report talked to Australia’s best about the challenges they’ve faced over the past year, including rate hikes and policy changes affecting investors and owner occupiers. We asked brokerages: Have your clients been affected by recent rate hikes and policy changes and what are you doing to respond?
Aussie Liverpool (10th)
Mark Burton, owner: We have noticed a drop in settlement volumes of around 10 to 15%. This is not through a lack of enquiry but rather that we can no longer assist clients due to higher serviceability requirements. It means we have to work even more closely with our clients to achieve their goals. There seems to be much more work involved in getting loans approved but that is the climate we operate in and we are adapting well.
However complex things are becoming, I see this as an opportunity for all brokers as the rules and regulations are becoming more complex by the month and a customer is only going to be able to check out one to three lenders which may not get them the answer that they need and the best result for them.
Smartline Currambine (8th)
Dave Urquhart, principal: Falling valuations has been had the biggest impact on clients and what they are aiming to do. With the rate hikes clients are concerned; however, through proactive communications and client reviews we have ensured they are educated on what is happening and how it impacts them. In some cases we have saved clients thousands in interest payments by getting them a better rate with existing lender or moving them to another.
Mortgage Choice Glenelg (4th)
Keith Caine, owner: Absolutely! It’s obvious that none of our investor customers have been happy with their rates going up but we make a conscious effort to remain positive in this space. All too often it’s doom & gloom so we always focus on what we can do to help and improve their situation.
Mortgage Choice Brisbane City (2nd)
Matt Cunliffe, managing director: A large number of clients are being impacted by recent policy changes. Clients are still out there hungry to invest and policy changes affecting investors has started to stir confusion amongst our investor clients. We are making sure that we are well informed and educated of any changes to ensure that we can remain the number one go to point for our clients who need assistance. These changes, although frustrating at times, are a great opportunity for us as brokers.
Read the complete Top 10 Franchises Brokerages report in the latest issue of MPA magazine, on desks now
MPA’s Top 10 Franchise Brokerages report talked to Australia’s best about the challenges they’ve faced over the past year, including rate hikes and policy changes affecting investors and owner occupiers. We asked brokerages: Have your clients been affected by recent rate hikes and policy changes and what are you doing to respond?
Aussie Liverpool (10th)
Mark Burton, owner: We have noticed a drop in settlement volumes of around 10 to 15%. This is not through a lack of enquiry but rather that we can no longer assist clients due to higher serviceability requirements. It means we have to work even more closely with our clients to achieve their goals. There seems to be much more work involved in getting loans approved but that is the climate we operate in and we are adapting well.
However complex things are becoming, I see this as an opportunity for all brokers as the rules and regulations are becoming more complex by the month and a customer is only going to be able to check out one to three lenders which may not get them the answer that they need and the best result for them.
Smartline Currambine (8th)
Dave Urquhart, principal: Falling valuations has been had the biggest impact on clients and what they are aiming to do. With the rate hikes clients are concerned; however, through proactive communications and client reviews we have ensured they are educated on what is happening and how it impacts them. In some cases we have saved clients thousands in interest payments by getting them a better rate with existing lender or moving them to another.
Mortgage Choice Glenelg (4th)
Keith Caine, owner: Absolutely! It’s obvious that none of our investor customers have been happy with their rates going up but we make a conscious effort to remain positive in this space. All too often it’s doom & gloom so we always focus on what we can do to help and improve their situation.
Mortgage Choice Brisbane City (2nd)
Matt Cunliffe, managing director: A large number of clients are being impacted by recent policy changes. Clients are still out there hungry to invest and policy changes affecting investors has started to stir confusion amongst our investor clients. We are making sure that we are well informed and educated of any changes to ensure that we can remain the number one go to point for our clients who need assistance. These changes, although frustrating at times, are a great opportunity for us as brokers.
Read the complete Top 10 Franchises Brokerages report in the latest issue of MPA magazine, on desks now
