Dual occupied negative gearing is a tax-lowering strategy that even the Australian Treasury Department accepts. Mortgage Street works with brokers whose clients are seeking to invest in properties. Dual Occupied Negative Gearing: An Accepted Tax Tool The job of the Australian Taxation Office is to collect taxes on items from […]
Competitor Match
Competitor match has several connotations, but the main point is that consumers win. Mortgage Street participates in matching and beating the competition (excluding pure online B2C lenders).
Finding the Best Mortgage Rate with Competition
The lending landscape changed when consumers gained the ability to go online and find loans from lenders willing to cater to their financial situation. Mainstream banks see competition within their sector. There are also non-bank lenders like Mortgage Street and online lenders vying for the same clients.
As a broker, this means that you have an array of financing institutions and products at your disposal for your clients.
Most clients don’t participate in rate shopping because it’s time-consuming. The loan process is already an involved process that requires time, organisation and supporting documentation. Rate shopping after an approval letter is printed adds another step to the process. Well-qualified applicants know that lenders are going to compete for their business. Applicants with some blemishes are still attractive to some lenders.
Once a client establishes a positive repayment history, there are a new set of suitors willing to talk to them. The lending industry places a heavy emphasis on risk. It’s important to finance projects that will succeed. It’s also important to finance new homeowners who have the ability to fulfill their legal obligation.
A client might not seem financially viable when they first apply for a home loan. Once a lender takes a chance on them, it allows them to prove themselves to others. Lenders might reconsider their financial opinion of a client and offer refinancing options. It’s helpful for brokers to be around for this phase. A client is going to need help fielding new offers for their business.
Competitor Match Conclusion
Mortgage Street participates in a competitor match. Additionally, we’re built on a culture of forwarding thinking that has allowed us to remain in business for several decades. Our culture has allowed our teams to develop innovative tools that provide the best loan terms for most financial situations. More importantly, the tools help us balance risk and reward.