By Mina Martin
HomeStart has been working with more than 800 mortgage brokers to help more South Australians into homeownership sooner, with a record number wanting to work with the state government-backed lender.
“As the economy tightens, interest rates rise, and with the record growth in house prices over the past two years, more brokers are supporting South Australians to enter the housing market by partnering with HomeStart,” said HomeStart CEO Andrew Mills (pictured above). “HomeStart works with brokers to make the home buying process as seamless as possible, and our brokers and the home buyers they’re supporting have never been happier. Over the past year, our broker satisfaction levels rose to 92%, which reflects how positive our partnerships are.”
In the 2021-22 financial year, 66% of the new loans issued by HomeStart have been settled by brokers.
Mills said the company has made significant improvements to its products and services over the past year, including:
“The turnaround with HomeStart is generally around four to five days, even to turn around a loan in a week is appreciated – they’re reliable and trustworthy and you can count on them,” said Ben Gregory, a mortgage broker from Protego Finance. “My clients are unique and lending and borrowing money is getting difficult. To have that capacity to open a dialogue about how we can help them get into a home is brilliant.”
Gregory said the broker support staff simplify the process – they are familiar with local builders as well as the payment systems.