Sydney-based mortgage broker Shannon Ingram has built his business around helping clients make informed, long-term property decisions. As founder and principal broker of Ingram Financial, which he established in 2024, he takes a measured approach to navigating the complexities of the lending market.
"I focus clients on what they can control: knowing exactly what they can borrow, keeping a buffer and buying a home they're happy to hold for the long term, rather than trying to time the bottom," he told Australian Broker.
In the installment of Australian Broker's Spotlight Series — where we highlight standout professionals in Australia's finance and broking landscape — Australian Broker caught up with Ingram again to learn more about the secrets to his success and how he's navigating the current volatile lending landscape.
The following interview has been edited for grammar and clarity.
SI: It's definitely quieter, even compared with six months ago. Fewer properties are selling, unsold stock is building up and auction clearance rates are lower. On top of that, higher interest rates and the cost of living crisis have reduced serviceability for a lot of borrowers. That makes refinancing harder for some clients too, even when they want to move. A November rate rise looks like roughly a coin flip at the moment. I lean towards it happening, but the September quarter inflation figures will really decide it. Either way, I don't see lending pressures easing until the middle of next year at the earliest.
SI: I focus clients on what they can control: knowing exactly what they can borrow, keeping a buffer and buying a home they're happy to hold for the long term, rather than trying to time the bottom. There are opportunities, too. Recently, a client had an offer accepted at more than 10% below the property's estimated value, based on recent comparable sales. It had only been on the market for a week, but some vendors are nervous in the current environment.
In Sydney, premium homes have fallen further than more affordable ones. So the gap for upgraders has narrowed. As for other brokers, I mentored brokers in my Smartline days, but the market has changed a lot since then, and it would be arrogant to assume I could slot straight back into that role. What I value now is sharing. My LMG BDM set up an informal chat for a group of LMG brokers, where we post scenarios and swap challenges and solutions, plus marketing ideas and wins. You see what's actually working out there. If you're not part of a group like that, find one. I get a lot of value out of it.
SI: I don't think there's much one broker does that others don't these days. Where I put my energy is technology, but only where it frees up time for clients. For example, I use Quickli to assess borrowing power efficiently, and artificial intelligence (AI) to help write and summarise my deal notes and documentation. My aggregator, Loan Market Group (LMG), also has great tools built into our client relationship manager (CRM), and they keep getting better. It's important to remember, though, that everything needs to be reviewed by a broker at the end of the day. We deal with significant amounts of client and lender money every day, and risking our licence on an AI hallucination would be foolish. I'm also not sending clients automated messages about their loans even though that would be easier. So everything keeps that human touch. I love that phone call when you tell them their loan is approved.
Technology keeps things like my annual reviews on track and lets me run a lean business without cutting corners on care. With clients, I start with where they want to be in the future, not just the immediate loan. With lenders, it's about good relationships with your business development managers (BDMs), getting the file right the first time and checking policy before you apply. That goes beyond the lender's minimum document checklist. Experience tells you what extra information a lender is likely to ask for given a client's circumstances, so you can address it upfront rather than get hit with an unexpected request at the eleventh hour, when everything is urgent.
SI: Borrowing capacity remains constrained. The Australian Prudential Regulation Authority (APRA) confirmed in May that banks need to keep assessing loans at three percentage points above the actual rate, and since February banks have been capped on how much of their new lending can go to borrowers at six times income or more. There's been a lot of lender disruption this year, too, with HSBC discharges taking around a month as customers move.
It's also a crowded time to be a broker. We’re writing a record share of home loans, more than 81%, according to the Mortgage & Finance Association of Australia (MFAA). But many brokers are now also sharing a quieter market. With some of the big banks cutting jobs and HSBC closing its retail bank, I expect some bankers will look at broking. Bank experience is a great foundation, and it certainly was for me, but building a client base from scratch in this market is tough. I think we’ll see some consolidation over the next year or so and a lot of people joining established brokerages rather than starting their own.
A surprising property trend for me is just how much results differ by suburb and property type, even within the Shire. You can't just rely on the headline figure in the news. In Sutherland, houses are down 5.1% over the past year, but units are up 9.4%. Meanwhile in Engadine, houses are up 5.4% and units 6.7%. Buyers are chasing value, whether that's a more affordable unit or more space for the same money. In an age of AI and national brokerages, I think local knowledge is becoming more valuable, not less.
