A leading specialist lender has said that it has seen broker numbers rise around 38 per cent year-on-year as it consolidates its brand in the market.
Speaking to The Adviser’s sister title Mortgage Business, Pepper Money's Mario Rehayem, managing director for Australian mortgages and personal loans, said that an increase in brand recognition, consistency in its offering, and speed of service was drawing more brokers to its products.
Mr Rehayem said: “[W]e never went out to the market and changed our business strategy, we never went out to market and changed our product appetite or consumer appetite, what we did do was stick to our core messaging which is: ‘We’re here for you when the others aren’t’ and I think what happened during  was the appetite changed for a lot of lenders and it opened up the doors for us for more brokers… Brokers saw what we stood for.
“It was not just looking after customers that fell outside [the norm], it was the service proposition. The people that we have (we have constant recognition for our BDMs on the road for the service level that they give), the product knowledge that they have. All of these are a combination of who we stand for, it’s not just hinged on a product, it’s not just hinged on a service, it’s all those components in one.”
Mr Rehayem added: “We’ve noticed that over the course of five years. It’s [been] around 38 per cent year-on-year growth [for] the number of brokers that actually use Pepper, and that coincides now with the growth that we’ve had in the business… It’s fair to say that our business has grown again on record levels and we don’t see that stopping.
“It’s not because we’re taking on more risk, it’s more brokers realising what we do and how good we are at doing it… So, it’s really refreshing and we’re excited because from our perspective, the horizon looks very strong.”
The managing director for Australian mortgages and personal loans went on to say that he believes the non-conforming market to still be “the largest underserved market period in the financial sector”, adding that he thinks more and more brokers are realising the value in this market.
He concluded: “We’ve never done a transaction that benefits a broker on its own accord, we’ve never done a transaction that benefits Pepper on its own accord; all three people – borrower, broker, Pepper – will benefit out of the transaction... So unashamedly, everyone is — and should be — happy in that process.”
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