Hypocrisy in loan application requirements has broker fuming

by Mackenzie McCarty04 Apr 2013

Sydney-based broker Andrew Kelly can smell hypocrisy rotting on his loan applications – and he’s just about had enough.

“The thing I love about this job,” he says, “is that I can problem solve and I can fill the void that the banks have left, which is the ability for clients to talk to people that really know what they’re talking about.”

Kelly acknowledges that this is a somewhat back-handed attack on lenders, but he’s understandably concerned about the direction in which an industry he’s dealt with for 32 years is headed.

The vast majority of brokers, he argues are very well-versed in what they do.

“There is a very small percentage that don’t do what they should do and the large group are being penalised…And somewhere along the line, someone has got to stand up and say ‘enough is enough’. We’ve really got to go back to what this thing came in for in the first place. The NCCP was originally introduced to get a lot of those people out of the industry.”

They succeeded, he says, but at what cost?

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  • by simon sami 4/04/2013 9:42:41 AM

    its ok to accept one payslip, if overtime , penalty rates, etc to be included than more payslip should be reqd.

  • by George 4/04/2013 9:47:30 AM

    They only ask for one payslip when the year to date info is on them

  • by OzBoy 4/04/2013 9:49:54 AM

    Mr Kelly it's your business, your licence and your butt on the line. Don't worry about what the lenders want do what you need to do to satisfy yourself and the regulators. Stop getting worked up over minor things that you have no control over.