Mortgage Broking has experienced phenomenal growth and change over the last ten years. Recent regulatory changes seem to have marked a transition of the industry from infancy into acceptance from the wider financial services landscape. The migration of workers and professionals into this field has been as significant as it has been remarkable, not just the number of people joining but also their reasons for a career change. Many new entrants (and dare we say the most successful ones) have sited a suite of intrinsic motivators for the shift into Mortgage Broking, including a desire.
Is Mortgage Broking Right for me?
- has clear objectives;
- work that is interesting;
- scenarios that are challenging; and
- achieving outcomes that are truly matter.
The reason mortgage broking is so appealing to these people, is it that it demands three main drivers of success:
- Autonomy (The urge to direct our own lives)
- Mastery (The desire to get better and better at something that matters)
- Purpose (The yearning to do what we do in the service of something larger than ourselves)
Obtaining finance for an individual is much more like a riddle than a multiple choice question. If the question were simply “Whats the lowest interest rate?” then there are a suite of Internet programs and automated systems which could answer that question. A professional Mortgage Broker takes into account the multitude of additional variables which help to determine whether one of the thousands of loan products available on the market is right for an individual. Such variables are not just limited to application fees, break costs and mortgage insurance premiums which directly impact the customers out of pocket expenses, but also consider the clients lifestyle decisions such as the impact of interest rate movements on cash flow as well as guidance through the inevitable stresses, pitfalls and setbacks commonly associated with the purchase of a property.
Mortgage Brokers operate within a Results Orientated Work Environment. Once the clients objectives have been defined and the broker understands the rules under which a lending product can be issued, the broker takes responsibility to ensure that the objectives match the product to the satisfaction of both parties. While the concept is rather simple to grasp, mastery can often take longer with many choosing to tailor their expertise to a particular niche, such as; First home buyers; Investors or Owner/Builders.
Mortgage Broking is a rewarding career for those committed to helping their clients. The advice provided can prove to be invaluable as clients make (what is likely to be) the biggest financial decision of their lives with immense satisfaction to be gained from helping young couples and families achieve their dream of Home Ownership.