Broker

NAB announces broker forums to discuss industry changes

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NAB has launched a series of educational events across Australia to help make sense of the complexity surrounding the recent industry changes, and what they mean for brokers and their customers.

The road show, titled Knowledge is Everything – Making Sense of Industry Changes, is being hosted by NAB Broker and Advantedge in partnership with The Adviser, and will run from 18-28 August. The first event will be held in Melbourne, with further dates in Sydney, Brisbane, Adelaide and Perth. The events are open to brokers from across the industry.

NAB’s Executive General Manager of Broker Partnerships, Anthony Waldron, said the forums aimed to provide an important dialogue with brokers, helping them to understand the drivers behind changing lending policies, and what to expect going forward.

“The events will provide insight in to the Australian housing market and the economy more broadly, and shine a light on what the lending community is working towards. Most importantly we’ll look at what these changes mean for brokers and their customers and what else they can expect from the changing landscape,” said Mr Waldron.

“Discussions at the events will not only focus on why lending policy changes within our third party businesses, NAB Broker and Advantedge, had to happen, they will also dig deeper to show the real drivers behind these changes in the industry” he said.

These unique events come partly in response to APRA’s new guidelines to major Australian lenders to adjust their lending policies in response to rapid growth in the residential property market and changes to serviceability measures under APG223.

“Prudent lending practices are intrinsic to the health of the Australian lending market, and NAB remains committed to ensuring our lending practices are in line with our industry obligations,” said Mr Waldron. “That said, we recognise these changes can be confusing and challenging for brokers, and we want to do whatever we can to reduce that burden.”

Discussion at the forums will also cover further regulatory changes set to affect the lending market in 2016. APRA has requested that major banks increase their capital holdings by mid next year, meaning that the costs of lending will increase as banks raise the amount of reserves they hold against loans they are exposed to.

Mr Waldron said that as the market continued to evolve, brokers would be in a strong position to support customers through these changes with expert advice.

“While these changes bring challenges for the industry, they also bring opportunity,” said Mr Waldron. “Now, more than ever, customers will be looking for the kind of support and expertise brokers can offer, in particular help them navigate the market changes.”

Mr Waldron said the events were an important part of NAB’s ongoing commitment to making it easier for brokers to do business.

“NAB is strongly committed to the broker channel, and we see this initiative as integral as we seek to simplify and educate around complexities in the market,” said Mr Waldron. “We want to empower our broker partners to confidently deliver the support their customers need in this time of change.”

For more information and to register for the Knowledge is Everything – Making Sense of Industry Changes events, please click here.

 

 

                                          

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