Australian Broker TV

Australian Broker TV brings you closer to the industry's most influential leaders and thinkers. Click on the videos below to watch the interviews:

Showing 1 - 9 of 283

Brokers benefit as banks slash fixed rates

Banks are cutting fixed rates to counter low growth in the credit market and brokers are the big winners. We speak to Tony MacRae about Westpac's strategy in the near term.

Video transcript below:

Donna Sawyer, Australian Broker TV
Donna Sawyer:
 Banks are slashing fixed rates in an effort to kickstart the sluggish credit market. Tony MacRae of Westpac says the banks recently announced two year fixed rate of 4.99% has attracted lots of attention.

Tony MacRae, Westpac
Tony Macrae:  Our BDMs have been absolutely inundated with enquiries from mortgage brokers and our local mortgage broker squads have been out there proactively phoning and e-mailing their broker relationships to let them know about the wonderful offer.  In addition, we have just recently announced that we are also dropping our 3 year rate to 5.29% under our premium advantage package.
 
Donna Sawyer:  He says being competitive in the market doesn’t begin and end with low cost loans.  
Tony MacRae:  I think it’s short sighted for any lender to rely on either fixed or variable rates to run their business.  As they say, ‘win on rate, lose on rate’.  Mortgage brokers want great service and that can come in the form of exceptional relationships, great turnaround time, tools, technology, all of those sorts of things.  We believe that what differentiates ourselves and will differentiate brokers in the marketplace is being able to add value to their business and we see technology playing a key role in that.  So we are looking to invest in our mobile technology where we will be able to launch a range of tools that will range from e-learning modules, a broker tool kit, valuations and allowing the broker to become a true home loan advisor to a customer.
 
Donna Sawyer:  But it’s not just banks that have a role to play in boosting activity.  Tony MacRae says brokers are a critical part of the equation.
 
Tony Macrae:  I think it’s really about brokers finding their niche and probably that’s around service, because they can differentiate themselves really in the service department.  So that’s finding a great partner that can deliver the right products, turnaround and service capability that their customers require and then really focusing on those small fine detail things that makes a difference for a customer as they go through that high anxiety process of getting a home loan.
 
Donna Sawyer:  This is Donna Sawyer reporting for Australian Broker TV.
  • Learn more to earn more Learn more to earn more (views 150)

    Alex Lambros of LJ Hooker Home Loans Eastern Suburbs tells Australian Broker why he invests a lot in ensuring his new brokers learn how to process loans efficiently start to finish before he provides processing support.

  • Be ready for a change in the property cycle Be ready for a change in the property cycle (views 1806)

    Matt Lawler, the CEO of Yellow Brick Road says brokers need to prepare themselves now for a change in cycle.

  • Basel 4 will bring new challenges for brokers Basel 4 will bring new challenges for brokers (views 1495)

    Recent developments in the banking sector have suggested that even stricter rules than the Basel 3 Framework may need to be applied – dubbed Basel 4. Martin North, principal of Digital Finance Analytics, explains the implications it will have on banks and brokers.

  • Offering your clients peace of mind Offering your clients peace of mind (views 1536)

    Defence Housing Australia, or DHA, provides housing to Australian Defence Force members and their families, but anyone can invest in defence housing. Madeline Dermatossian, the chief operating officer of DHA explains why investing with them can offer your clients peace of mind.

  • Be 'mobile friendly' or risk being obsolete Be 'mobile friendly' or risk being obsolete (views 1998)

    Darren Moffatt, Managing Director of Senior's First Specialist Finance explains how Google's ranking algorithm works, what SEO is, and why this matters to your company.

  • More than just a lender panel More than just a lender panel (views 1641)

    As the market becomes more competitive, brokers expect more than just a panel of lenders from their aggregator. They want help building their business. The heads of major aggregators told Australian Broker at the MFAA conference about how they will be helping brokers.

  • The Major tussle for market share The Major tussle for market share (views 2052)

    With an increasingly fierce market, the major banks are having to fight harder for market share. Australian Broker was at the MFAA conference in Melbourne to ask them what moves they'll be making this year to grab brokers’ attention.

  • Non-majors; Non-majors; "the genuine alternative" (views 2166)

    In this fierce market, gaining market share can be a hard won battle, especially for the non-major banks and non-bank lenders. At the MFAA conference in Melbourne, Australian Broker caught up with some of these lenders to talk through how they'll be approaching the challenge.

  • MFAA announces new initiatives MFAA announces new initiatives (views 2623)

    Australian Broker caught up with Siobhan Hayden at the MFAA conference in Melbourne to discuss newly announced initiatives including an upcoming $1m consumer awareness campaign.