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DKL Financial Solutions owner Dean Logan shares how he successfully provides home loans and asset finance solutions in equal amounts.
How long have you been offering asset finance?
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DKL Financial Solutions has been offering asset finance for the last five years. Personally, it has been 13 years.
What percentage of your total loan book is asset finance?
About 50 per cent of our total loan book is asset finance.
Why do you offer asset finance?
We started out just offering asset finance but moved to offering mortgage solutions for our customers as well. This has allowed us to provide a one-stop shop for our clients, not only for their satisfaction, but it also assists us to reduce our customer leakage to other competition sources.
We needed to ask ourselves why continue with asset finance [when we introduced home loans to our offering], and the answer was simple. It is a great way to keep front of mind with our clients by helping them to purchase the most commonly financed items in life, which is business equipment, cars and the leisure assets we all like to own these days. What better way to help an existing home loan client than to organise a new equipment loan for their business, a new car or even a boat.
From a broker’s point of view, how competitive is asset finance compared to residential lending?
The asset finance world is a very competitive area, not only with other asset finance brokers, but more commonly with the dealers. Whether it is the local used car dealer to the franchise dealers, they are hunting for your customer and have proven sales processes to keep the customer in-house.
As long as you provide an efficient customer satisfaction-based process from application through to settlement, you can deflect most competition.
