The financial climate in Australia is going through a major shake up, with the Royal Commission forcing banks to reconsider who they lend to. Lenders are tightening their criteria, and that means fewer Australians are finding themselves easily able to get a prime loan application approved. However, specialist lending provides a solution to those struggling […]
Read More
Starting a mortgage broking business gives you an opportunity to work on your own terms and with the people you really want to. As a broker, you get to help people find a way to buy their own home, when they may feel confused about the best path for them, or be unsure what type […]
Read More
In Australia, mentoring is compulsory for the first two years of a mortgage broker’s career. Becoming a mortgage broker comes with plenty of challenges, and having a mentor means you gain their knowledge and experience. While you can pick up technical skills on the job, or from a course or manual, learning from a mentor […]
Read More
Potentially one of biggest benefits of joining a franchise agreement is the support you get in terms of marketing. With a national brand presence, your company benefits from recognition and the natural enquiries that generates. You also get a ready-made collection of lenders available to work with, without needing to market your services to them […]
Read More
Winning a sale is one thing, continuing to benefit from it in the years to come is another. A mortgage is a long-term commitment for your customer, and a big financial investment, so it’s not surprising that they may have one or two questions in the months after your sale. If you can provide good after-sales […]
Read More
As a mortgage broker, high-risk clients are those who don’t fit the criteria a traditional lender requires of its borrowers. They may have a poor credit history or be otherwise unable to prove that they are the type of borrower a lender can trust not to default on repayments. For these types of clients, solutions […]
Read More
In short, yes. A six-figure mortgage broker franchise income stream is achievable with the right approach. Last year, Australia’s top mortgage industry brokers earned $2.5 million each, while many more hit $1 million, according to Business Insider. With options to reduce expenses by working from home and ditching the commute, as well as the benefit […]
Read More
Specialist lending is a lucrative mortgage broker area because the tightening of the prime loan markets means more people are finding themselves looking for alternative solutions. In December 2017 the Australian government took the decision to form the Royal Commission, whose remit is to reduce irresponsible lending. As a result, banks and other providers are […]
Read More
Creating your strategic plan forces you to look at what you aim to achieve in your new mortgage broker business, and the steps you need to take to get there. It should be something you can refer to regularly to keep your decision making on track. It’s therefore important that your strategic plan is put […]
Read More
Being a broker is a great way to balance work with your other commitments. Using the right business model, it can also be a lucrative way to earn money, with a six-figure income a reality for the most successful brokers. However, around 50 per cent of new brokers fail within their 18 months because they don’t adopt a […]
Read More
