Earlier this year when APRA announced tighter home lending standards, it meant that the services offered by brokers became even more valuable to the financial industry.
For those seeking home loans and financial advice in the context of legislative change, it becomes even more important to engage a broker to ensure that no stone is left unturned. It’s our job to ensure all possible research is completed and the right deal is achieved for the client’s personal circumstances.
For brokers, these changes have flagged the importance of continuing to educate and advise our clients so that they can be confident in their financial decisions. During times of legislative change, many people become confused. It’s crucial to ensure we educate our clients on variations and keep them up to date with new laws and products industry-wide – and more importantly, clearly communicate what it means for them.
Brokers possess a key tool – we have access to all industry products, where banks only have access to their own singular set of options. We have the power to compare options, assess changes and present these findings to our client, so the decisions and power remain in our hands.
As brokers, it’s our number one job to meet clients’ needs and objectives, and to listen and understand both their short-term and long-term goals and how we can create a framework to achieve these in the context of their financial circumstances.
With an ever-changing market such as ours comes an ever-changing set of regulations – with these changes comes complexity. It’s important to consider and communicate what changes will mean for each individual client. As brokers, it’s our duty to assist, protect and advise clients to gear them toward their best choices, and to help them translate the complex financial landscape to achieve their financial goals.
Ruan Burger, managing director, Time Home Loans
Ruan Burger has been in the mortgage broking business for nearly a decade, starting out in the booming town of Gladstone after working in the banking industry for many years. He formed Time Home Loans early in 2013 after moving to Brisbane and the business has grown significantly since then.
Ruan is a nationally recognised member of the MFAA. During his career as a mortgage broker, Ruan has won – and been a finalist in – several awards. He won the MFAA Mortgage Broker of the Year award in 2012 and 2013 as well as the MFAA’s Award of Distinction in 2012 and was a finalist for the MFAA’s Credit Adviser award in 2014.
Ruan believes it is his ‘love of the game’, his strategic alliances and colleague morale that promote his business as a leader in the field.