Is your business future proof?

As the country awaits the outcomes of the Royal Commission, six out of ten Australians are showing their support for mortgage brokers by voting with their feet.

In the MFAA’s latest broker market share figures from September 2018 quarter, a whopping 59.1 per cent of consumers chose to secure the services of a mortgage broker to fulfil their property dreams.

Indeed, the increase in foot traffic to mortgage brokers’ doors also parallels with strong customer satisfaction levels, which currently sit at 90 per cent.

In the current tightened lending environment, the increase in broker patronage is testament to the exceptional work they do in providing professional services and ongoing advice. We all know that brokers support customers, but as 2019 unfolds and the industry faces potential change and new waves of regulation, it’s worth mortgage brokers across the country considering who supports me?

With uncertainty from the Royal Commission, coupled with increasing compliance requirements and tightening lending policies, brokers require more support than ever before.

At Mortgage Choice, we know that brokers need the right support and services to build successful businesses and we have invested in our broker offering to future proof your businesses for whatever lies over the next hill.

Yes, things have changed for the better at Mortgage Choice. Here’s why we are worth another look:

Earn up to 90 per cent commission

The introduction of our new remuneration model enables Mortgage Choice brokers to earn up to 90 per cent on upfront and trail commission whilst still accessing the quality support services for which we are famous.

Transparency

At Mortgage Choice, our unique ‘Paid the Same Policy’ ensures brokers are paid the same rate of commission, regardless of which residential lender the customer chooses from the Mortgage Choice panel. As broker remuneration comes under greater scrutiny from regulators, this long-held policy provides peace of mind for you and your customers.

Business services

Our coaching across loan submissions, business planning and management, sales and marketing is highly valuable to franchisees, especially those smaller businesses that are just starting out.

Compliance support

Increased regulatory scrutiny requires a robust compliance department to handle active risk management and monitoring. The quality of our compliance and regulatory support, which provides brokers with the framework to build and run successful businesses, is second to none.

Innovative technology

It’s tough out there at the moment, with loan applications taking longer to process and lenders demanding more information than ever before. Mortgage Choice helps you work smarter by providing vital support services and innovative technologies, such as our new Broker Platform, to drive efficiencies and provide a premium customer experience in today’s competitive market.

Quality lender panel

After 26 years in mortgage broking, we have developed a robust lender panel who are committed to offering a flexible range of solutions, at competitive rates, to cater to the widest range of borrowing needs. In today’s tightened lending environment, as more borrowers fall outside mainstream lending criteria, it’s essential to have the breadth of choice to deliver to evolving customer needs.

Offer customers more so they keep coming back

Many Australians need help with managing their money and value quality financial advice. Offering customers more than home loan services will increase their likelihood to return to you for advice and diversify your revenue stream. Products and services with an element of ongoing renewal or service give you an opportunity to keep having regular conversations with your customers. That’s why Mortgage Choice invested in building Mortgage Choice Financial Planning five years ago. Our franchisees can create multiple revenue streams from day one from our full suite of financial services, including car loans, personal loans, general insurance and referrals to our financial advisers.

Talk to our recruitment team

If you you’d like to know more about the compelling Mortgage Choice offering, we invite you to give us a call on 1300 650 330 or visit www.mortgagechoice.com.au/join to learn more.

Written by Mortgage Choice

Last Updated: 14 March 2022

Published: 25 January 2019