Better Choice Home Loans has ramped up its broker proposition by increasing commissions and cutting back clawback periods on its specialist lending products.
The non-bank lender announced the changes will apply across its Ultimate Alt Doc, Specialist and Specialist Plus ranges, with the clawback period now reduced after just one year.
Paul Bakker, national manager sales and strategic partnerships at Better Choice, said the moves form part of a broader strategy to strengthen broker relationships.
“We are dedicated to empowering our brokers with the tools and support they need to succeed,” Bakker said. “By enhancing our commission structure and reducing clawback after one year, we are creating a more favourable environment for our partners to thrive.”
The lender has simultaneously streamlined its operations with several tech and process upgrades, including an overhauled website, improved servicing calculator, and a trimmed application checklist.
“These improvements are designed to expedite the customer verification process and reduce the time it takes to finalise loans,” Bakker said. “We understand that time is of the essence for our brokers and their clients. By simplifying our processes, we aim to provide a more efficient, seamless experience that allows brokers to focus on what they do best – serving their customers.”
The company teased upcoming enhancements to its Gold Commercial range, with further details expected to be announced shortly.
Better Choice’s announcement comes as the mortgage broking industry prepares for major shifts in 2025. Industry experts have pointed to rising competition, digital transformation, and expected interest rate cuts as defining trends for the year ahead.
Derwent Finance’s Rhianna Farnan noted that flexible work conditions and attractive income opportunities are drawing more entrants into the broking profession, intensifying market competition. She said brokers who focus on personal branding, digital marketing, and consistent client engagement will be better placed to succeed.
Additionally, brokers across Australia and New Zealand are preparing for a surge in refinancing activity, driven by anticipated rate cuts and a large volume of loans set to be refixed in New Zealand.
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