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Broker Market Share Grows in the face of adversity

NewsLiam Brown

Broker Market Share Grows in the face of adversity

2018 was a rough year for everyone in the lending industry, however brokers have been able to successfully leverage their expertise to make up 59.1% of residential home loans submitted in the September 2018 Quarter.

This comes as no surprise, as research released by Digital Finance Analytics found that 40% of home loan applications received by banks in December 2018 were rejected, whilst only 20% of applications to non-banks were rejected, so of course the best place to turn to get the right loan for you is to your local broker.

QED is proud to be a part of the broking community by providing market leading in-person and online compliance services to credit businesses of all shapes and sizes, and we're constantly working with lenders and aggregators to make sure that we can give brokers the best solutions to demonstrate their compliance in a way that is accepted by their lender and aggregator - full utilisation of CompliFast has even been accepted in principle by 3 of the major 4 lenders as reasonable demonstration of ongoing compliance (and we're hard at work on number 4!)

All lenders, especially the banks are placing an increased focus not just on how you present your clients, but how you operate your business on a day-to-day basis. By utilising QED CompliFast or our full-service offerings, you're taking advantage of a compliance solution that helps you to demonstrate your ongoing compliance, without taking time away doing what you do best - helping your clients.

As always, The QED Risk Services team is here to help, its more than just a set of tools for you to use. If you need help with your ongoing compliance or changes to your licence, don't hesitate to pick up the phone and give us a call to see what we can do for you.

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