Brokers capitalise on NCCP exodus

by Ben Abbott09 Feb 2012

Brokers remaining after the NCCP introduction may be starting to see benefits from less competition.

Wollongong-based IPS Home Loans' Paul Wright told Australian BrokerNews November and December 2011 were the best those months had been in nine years, and NCCP was playing a part.

"Those figures are an indication of where the market is, despite traditionally slower months," he said.

"There are a number of factors. There was the end of the first homebuyer stamp duty concession in NSW, and we have seen a lot of investors coming into the market late last year," he said.

"There has also been a reduction in competitors since the NCCP - that has come into play."

Wright said that he does not see as many brokers in his local area of Illawarra as he used to prior to NCCP, and that that was leaving him a bigger slice of the pie.

"I think what is happening is people are gravitating towards more professional businesses in the mortgage broking space, for example businesses that operate from a premises rather than mobile," he said.

"We don't do any appointments outside of our office - we try to ensure the business is perceived in the same way as an accountant or solicitor," he said.

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  • by Brad Q 9/02/2012 10:38:56 AM

    Why does office bound mean professional? I work mobile and my customers think the service is extremely professional. I agree with the above... there is more business now than there was 12 months ago...

  • by Melbbroker 9/02/2012 11:16:06 AM

    Been mobile for 6 years. My clients love the service. Having an office has nothing to do with it

  • by Coast Broker 10/02/2012 11:20:11 AM

    Agree that being mobile does not mean you are not professional. I have a home office that people are free to come to see me at. I would hardly think a potential client would want to go out after hours at night to see a Broker in their office because it is deemed to me more professional to only interview people in an office.