Mortgage manager launching new online tool for brokers

by Julia Corderoy11 Sep 2014
Mortgage manager Australian Financial is in the process of launching a new online tool for brokers, which promises to make it easier for brokers to deal with the lender and navigate its products.

The non-bank lender is launching an online ‘comparison module’ which will allow brokers to compare loan products, making it easier for them to stay up to date with products and  find the right deal for their client.

“Brokers can log on to our website and go to the comparison module, enter the different variables – such as LVR, credit history, employment status, security type, loan features, etc. – and it will filter all these variables and let the broker compare the most suitable products and the current rates.” Alicia Carter, national sales manager at Australian Financial said. 

Carter said the new tool will help to bring Australian Financial back to the forefront of brokers’ minds and prove that the non-bank lender can compete on both technology and product with the big four.

“Being a mortgage manager opposed to a bank, we have around 30 different products. We deal with everything from non-conforming to SMSF to prime loans under 80% LVR with no LMI. We had feedback from brokers that it was great we could do everything, but it was hard to navigate through our huge range of loan products and determine the best fit for their client.” 

With the recent price wars in the mortgage market, Carter said it has been difficult for the smaller players to gain market share. She said the comparison module will help demonstrate to brokers the lender's competitive edge over the major banks.

The comparison module will be officially launched next week. Carter also hinted at further technology developments in the pipeline, such as plans to create an e-lodgement system.

“We just want to make it as easy as we can for brokers to deal with us,” she said.