Modern Mortgage Brokerages are in a very competitive industry, where success means more than simply having the lowest rates or the largest suite of loan products to choose from. Building close relationships with clients and having a tremendous team behind every broker in the business distinguishes Vision Property & Finance from the competition.
The average mortgage broker’s day is unlike that of any other job. One defining characteristic of a modern broker’s life, though, is that their day is always fast-paced. Every broker is striving to make sure clients receive the best advice for their unique situation. It can’t be done alone!
The Best Brokers Have the Best Team
It is true to say that behind every great mortgage broker is a great team, and from the very beginning Vision Property & Finance has realised their team is more than just the sum of its parts – the many individuals on the team combine to provide an award-winning service that makes a huge difference to client’s lives.
Ewan Bennett is one of the newest additions to the Vision team, joining the team in January 2017. Ewan has been delivering great service for Vision’s clients, helping to make a real difference to client outcomes. He brings energy, enthusiasm and exceptional attention to detail. This is not surprising since Ewan has an incredible set of skills gained in previous roles as an analyst programmer, financial manager at a school, and property and service manager in the aged care and independent living sector.
“Coming on board with Vision has been a really positive change for me,” said Ewan. “It has been great being able to help people realise their dreams of becoming a property investor and securing their future.”
“As a former programmer working with a clothing manufacturer I have been used to applying a very methodical and systematic approach to highly-detailed work. This has really come in handy for dealing with clients’ loan applications as the Mortgage Broker Support team help our brokers deliver the best-possible solutions for their clients.”
Mortgage Broker Support is an integral role within a modern brokerage. It is a busy role that involves the preparation and submission of loan applications, as well as follow-up with clients, solicitors, conveyancers and lenders all the way through to settlement and post-settlement. A keen eye for detail sets apart good Mortgage Broker Support and can result in exceptional results for clients.
Helping a Client Make their Property Development Dream Come True
Ewan was recently involved in a client situation which utilised his great detail-orientation, resulting in a win for the client that helped fulfil a dream to develop property.
“The client had a property with a single house on it and had secured a development application to sub-divide and build another house on the sub-division. He came to Vision to find out if he was able to realise his dream to develop his property and build a second residence.”
After discussing his options the next step involved applying for a construction loan to enable the client to have the funds to build the second residence on the sub-divided lot.
“We submitted an application to the bank for the client and we asked the bank to do an up-front valuation to validate our claims for the loan. This is known as a construction valuation. That came back very positive, demonstrating that it was going to work for the client.”
Helping the Client Apply for Extra Funds to Properly Complete their Construction Project
At this point the client drew-up construction plans for the new residence. As sometimes happens when starting a construction project, the client realised that he would need slightly more funds to properly complete the project.
“We applied for a variation to the loan for our client so he could have enough to complete the job properly. However, the bank came back with a substantially lower valuation and asked for a large amount of lenders mortgage insurance. It would have cost our client thousands of dollars he hadn’t budgeted for.”
Many brokers would have found the going too tough at this point, however, Ewan and the Vision Team’s dogged persistence eventually secured a better outcome for the client.
“We challenged the valuation and found that a different valuer was used by the bank for the second valuation. So, we asked the bank to have the valuer they initially used come and assess the property for the purpose of the loan variation. The new valuation was vastly superior and resulted in the client securing his extra funds and needing to pay only a fraction of the lenders mortgage insurance the bank had asked for.”
Helping this client is one of many highlights for Ewan in his new Mortgage Broker Support role with Vision’s Newcastle team. He has found the team great to work with and is happy he is making a difference for Vision’s clients.
If you’re considering a loan for construction, your first home or an investment property, make sure you have the best team working for you. Call Vision Property & Finance today on 1800 004 663 or contact us to speak to one of our expert consultants.