One of the mortgage industry's most respected leaders has confirmed he will host the delegation of Australian mortgage brokers and aggregators on The Adviser’s UK Study Tour, to be held in London from 16-19 October.
Organised by The Adviser, the UK Study Tour will offer 30 delegates an up-close view of mortgage distribution in an environment with lower margins and more intense regulation. Delegates will have the opportunity to determine how UK best practice and learnings can be adapted for their own businesses.
Steve Weston, who has been pivotal in securing the UK mortgage market’s most influential speakers for the tour, today confirmed that he will personally host the event.
“I welcome the opportunity to join The Adviser and take this delegation of forward-thinking Australian brokers and aggregators to the UK,” he said.
“With around 70 per cent of all UK loans written by intermediaries there are significant opportunities for mortgage businesses that can understand and apply the same principles in the Australian market as we march towards greater market share.”
“In addition, the UK regulatory environment is a potential blueprint for how Australian legislation will be shaped — and this is a unique opportunity to get a head start on how to position your business under tighter government oversight.”
Mr Weston has been a strong advocate of the value in understanding the UK’s third party mortgage distribution channel since his return to Australia early this year following four years with Barclays in London.
Prior to his time in the UK, Mr Weston spent nearly 20 years in senior roles in the mortgage and finance industry in Australia, including general manager at St. George, general manager — residential and commercial lending at Challenger as well as general manager — broker platforms at NAB.
The idea to develop a UK Study Tour was sparked when Mr Weston recorded a podcast with Momentum Media director, and founder of The Adviser, Alex Whitlock back in April.
“I spoke to Steve a few weeks after he returned from the UK and his learnings from that market were astounding,” Mr Whitlock said.
“In his role heading up Barclay’s mortgage business, Steve has witnessed the UK market change beyond recognition. There are undoubtedly parallels here in Australia — and that represents significant opportunities and threats.
Mr Whitlock believes learning from the UK’s most successful and influential figures could have a profound impact on Australian mortgage market leaders' views on how the market will evolve and how they best adapt their own businesses to meet those opportunities and challenges.
“The speakers Steve has helped us assemble are incredible. They run highly profitable businesses that advise clients on billions of pounds of mortgages every month in a competitive marketplace.
“What’s more, with commissions of less than 40 basis points up front and no trail it’s clear that the UK mortgage brokers know how to run a very efficient operation.”
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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