Loan writer to pay back commissions

"If we do a loan for a client and they’re not happy for any reason, we’ll rewrite that loan and refund any upfront commission we make on the new loan within the first 13 months," he said.

"We’ve never been called on it, but it gives a lot of people comfort when they are uncertain."

"It’s a guarantee that almost certainly a bank isn’t prepared to offer," Mr Beattie pointed out, adding, "our thought was we have to differentiate ourselves in an undifferentiated market."

The guarantee is one of three that Cube Central offers its clients.

The second is that if a client calls Mr Beattie or any of his staff, and the phone call isn’t returned within four business hours, Cube Central will give the client $100.

"Anyone who’s dealt with a bank, that’s a big relief for them," Mr Beattie remarked.

The third guarantee that Cube Central offers is in regards to clients’ loan progression.

Mr Beattie explained that his business aims to provide clients with an update on their loan at least every five working days, or they’ll pay the client $100.

"That way the client is rarely ringing us to find out what’s happening with their loan," he commented.

"We’re keeping them in the loop, letting them know the time frames and where we’re at. Whatever it is we know, the client will know."

[Related: Brokers are what banks pretend to be says CEO]