Australian Broker returns with another edition of the Spotlight Series, where we highlight standout professionals shaping the future of mortgage broking and finance across the country.
Today, we sat down with George Li, director and principal of Sydney-based financial services firm Leading Financial Solutions. Li operates across both residential and commercial lending, bringing a wealth of experience to the table. Before making the leap into broking nearly five years ago, Li spent more than a decade at National Australia Bank (NAB), honing his expertise in the financial sector.
The seasoned finance expert discusses emerging opportunities for brokers, the key lessons from his own journey and the biggest trends currently influencing the industry.
The following interview has been edited for grammar and clarity.
GL: I’m Australian-Chinese and spent 10 years in business banking with a major bank before making the jump into broking in 2021, at the start of COVID-19. At the time, it felt like a risky move with so much uncertainty. But the combination of historically low interest rates (around 2%) and people being stuck at home created a surprising surge of activity in the markets and I managed to survive year one.
GL: I run a split book across residential and commercial lending. Most of my clients are in New South Wales (NSW). Though I do have a few scattered across the country. Residential lending can often be handled virtually, but with commercial and self-employed clients, face-to-face is key to how you build long-term relationships and trust. I see a bit of a gap in the market: the need for commercial brokers who can provide genuine advisory services and educate clients on options like unsecured lending, cashflow finance, self-employed structures and trade finance.
GL: Sydney runs on higher absolute numbers. The average home loan size in Sydney is around $800k, noticeably higher than most other Australian markets. That scale cuts both ways: when interest rates move, Sydney borrowers feel it more acutely. After just a couple of hikes, we’ve seen clients come under significant pressure and their borrowing capacity drops faster compared to other regions.
GL: I don’t know if I’d call myself successful. What has worked for me, coming out of commercial banking, is always keeping a credit hat on. I spend extra time thoroughly pre-workshopping non-vanilla deals before they’re submitted. That upfront effort saves time later, reduces rework and creates a smoother experience for clients. There are plenty of resources at our disposal — bankers, BDMs, credit hotlines, even other brokers — and I make full use of them.
My advice to other brokers is to adopt a long-term, strategic mindset. Don’t just take orders. Be an advisor. Sometimes disagreeing with a client’s initial idea and offering a strategic perspective is more valuable than simply doing what they asked for.
GL: For clients: communicate proactively. If I start a file on Monday, I want to have updates by Wednesday and Friday, even if nothing major has moved. The worst thing is for a client to be left in the dark and chase us asking, "What's happening now?"
For working with lenders: do your homework before you pick up the phone or email. Check policy first, then workshop with your BDM or credit hotline. Don’t waste their time with questions you could answer yourself. The lenders will appreciate it more and be more responsive to you next time. For commercial lending, it is imperative that you find key partners in the banks that satisfy both technical excellence to get the deal across the line, and second, match style and personality with you so that you enjoy working together. (The second one is a bit underrated.)
GL: Yes, activity has definitely picked up. With rate cuts and improved customer sentiment, we’re seeing more pre-approvals and stronger demand, especially in selective Sydney pockets where auctions are hot again. That said, serviceability models at the banks haven’t shifted dramatically, and won't until we see maybe a few more rate cuts.
GL: For clients: understand your current rate, your borrowing power and what options are available for the next step. Stay close to your banker or broker and consistently review your loan every six months. Get a rough understanding of the market changes, where rates are going, what your borrowing capacity is, etc.
For brokers, volatility is when we prove our value. Stay close to your clients; act like an advisor. Drive your value showing your strategic capabilities and not purely act on price.
GL: The biggest one is the rise of private credit. We have seen private lenders have an appetite for deals that mainstream banks can’t or won’t touch. That’s a huge market and a benefit to consumers. It means more flexibility, more access to capital and more ways to get deals done. The caveat is that there are so many players in space. And while many are reputable, some are less transparent or even outright dodgy. Due diligence is mandatory.
