Mortgage broking has transformed over the past decade, with more Australians now turning to brokers than directly to banks when arranging a home loan. For Edward Taffa (pictured), mortgage broker at Shore Financial, this shift reflects a growing trust in the profession as well as technology’s ability to simplify complex processes.
“For me, it’s the recognition brokers have gained over the years,” Taffa says. “These days, the majority of home loans in Australia are written through brokers, which really shows the level of trust people have in us.
“Things like digital verification, better access to lender policies, and streamlined application platforms have made the client experience faster and more transparent.”
Taffa’s own journey into broking began six years ago, following nearly 14 years in the finance industry. His career on both the banking and client sides provided valuable insights that eventually shaped his decision to become a broker.
“After a while, I realised broking was where I could make the biggest impact, helping people through what’s usually the biggest financial decision of their lives,” he says.
Despite the industry’s progress, brokers face mounting challenges – from compliance burdens to higher borrowing hurdles.
“Regulations and compliance are becoming more complex, which is important for protecting clients but can add layers of admin and slow things down,” Taffa says. “Rising interest rates and tougher serviceability rules are making it harder for people, especially first-home buyers, to get into the market. And while technology is improving, systems across lenders still don’t always talk to each other as smoothly as they should.”
He sees smarter use of digital platforms, collaboration, and communication as key solutions.
“At the end of the day, clear and consistent communication with clients goes a long way in helping them feel supported through the process,” Taffa says.
Among his many client experiences, one stands out as a defining moment in his career.
“One that stands out was a client with a really complex income structure,” Taffa says. “They had multiple entities, and another bank had already declined them. It took a lot of digging into lender policies, structuring the deal carefully, and a fair bit of persistence, but we managed to get them approved.”
The deal not only helped the client buy a home but also set them up for future investment. The experience reinforced Taffa’s belief in persistence and attention to detail.
“No two clients are ever the same,” he says. “Sometimes the difference between a decline and an approval comes down to patience, knowing the policies inside out, and going that little bit further for your client.”
For those considering a future in broking, Taffa emphasises the importance of relationships, resilience, and continuous learning.
“I’d say, first and foremost, focus on building relationships,” he says. “Broking isn’t just about numbers; it’s about really understanding what clients want to achieve and building their trust. Be ready to learn constantly, because policies, compliance, and the market never stop changing.
“Surround yourself with the right support, whether that’s a mentor, a strong team, or a good aggregator. And finally, play the long game. Success in broking doesn’t happen overnight. It comes from consistency, integrity, and building a reputation over time.”
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