Chris Bates
speaker
1,659 appearances
5 recordings
1 series
first heard Jun 2021
last heard Dec 2022
Chris Bates’s voice in public audio — every appearance, attributed to the second.
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Appearances
Someone might be casual or contracting or maternity leave or the type of property they're wanting to buy versus how much deposit they've gotten.
That will then basically be, you know, we're watching the Australian Open Tennis at the moment.
They're playing that, hey, you know, that game where they knock down certain personalities.
It's a little bit like that with a bank.
You know, we've got 30 banks on our list.
And we start knocking them down and saying, well, you know, really there's two banks that are probably the best suit for you and then which of those two banks is going to give you the best rate.
So really policy is the driver a lot of the time.
But the big thing that, you know, that also determines the bank you use is turnaround times.
How long is that bank going to take to get to your file to then go through all the, you know, there's usually a tennis match as well where the credit assessor asks for more details and you have to send it.
The process, sometimes speed is really important, especially when people are trying to buy their first home
getting a pre-approval and taking two months.
So turnaround times is another big thing we choose in banks.
The good thing is mortgage broker is not a new job.
So consumers have spoken with their feet really, and over 60% of loans go through mortgage brokers now.
And in the banks, mainly the way they get new customers is from mortgage brokers because you don't go and open up a new bank account at a new bank.
that sort of gives you a bit of background on how the mortgage broking industry is growing every year.
That used to be 20%.
Now it's 60%.
I think a lot of it is the way that the remuneration is.
So hence why in the Royal Commission, one of the big yellow banks try to kill mortgage brokers by suggesting consumers should pay for it.
Showing 1121–1140 of 1,659 · page 57 of 83
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