ANZ have recently started offering franchises under the banner ‘ANZ Mortgage Solutions’. I believe CBA have annouced something similar…
Anyone know if this is similar to how AUSSIE went from Ausie Home Loans to Aussie Mortgage Market, whilst still offering thei own mortgage products?
Would anyone here choose them over a non-lender alligned broker? I don’t think I would…I just don’t understand how they can compete, am I missing something here?
As long as I get full disclosure and am in a winning situation – I’ll go for it.
“If You never never ask, you’ll never never know”
Just sounds like the banks selling off their mobile lenders, reducing costs, maximising profits. I can’t imagine them being accepted as much as unalligned brokers once people confirm that they are heavily biased to sell their companies product, first. Time will tell.
From what I have read these ANZ guys wont be brokers. They will be ANZ mortgage writers and will deal exclusively with ANZ products. They will represent ANZ and be seen as ANZ employees to the public.
http://www.smh.com.au/articles/2004/03/31/1080544553883.html
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I see, though isn’t this similar to Aussies mobile lenders? I’m sure, bored person, that the banks may be concerned about brand dilution, however, I think this the opposite extreme, too much branding for my comfort… bias, if any, is not as obvious, or pronounced for most other brokers. They rely on the goodwill and word of mouth from satisfied clients to build their own brand recognition … the way it should be.
I can understand why the number of people using brokers will double in the next few years to establish 60-70% of the mortgage industry, like its already done in the US and UK.
Quote:Originally posted by DeClair:I see, though isn’t this similar to Aussies mobile lenders?
I think the ANZ franchisees will be mobile lenders selling only ANZ products.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
hi,
from what i’ve heard around the traps, the shop front for anz and colonial won’t be cross selling accounts, or other bank products – purely mortgages – as they have identified what we brokers already know.
also, i have heard they are targeting brokers rather than ‘branch’ people to operate these – good luck – i’d think it wouldn’t really appeal to the good brokers out there.
cheers
brahms
If you don’t ask, the answer is no!!
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