March Madness Post RC Report– Borrowers Still Winning

Following on from last month’s Royal Commission Report and the recommendations made, people across Australia have come out in force to support the Mortgage Broker industry as they recognise it as a valuable and important part of home loan lending in today’s space. Not to mention keeping the big banks honest and real competition alive.
We (the broking industry in general) have been inundated with calls, emails and pledges of support and praise for the service we provide from all sectors of the community - in fact probably the only ones not supporting Mortgage Brokers are most likely guilty of wrong-doing in the past by colluding for their own agendas!
As mortgage brokers, we make a real difference. We provide real competition, by driving home loan lending to where it will best suit the borrowers, not the banks. We represent over 60% of all home loans written in Australia, and we employ around 27,000 people. So shame on people who want to change what is obviously a popular and successful business model.

One person recently asked “why should I use a broker and not go directly with a bank?” The answer is simple - you walk into a bank branch during their business hours, and they will offer you what products they have, and that is it! If you want a true comparison, you will need to take more time off work and go other banks, again during their opening times, to discuss just their products and nothing more. With a Broker, we come to you, when it suits you (even after work) and we will discuss ALL banks, as well as other lender options, then provide you with suitable choices and allow you to decide who to use. Sometimes, we may very well end up using the first Bank you went into or the lender you already bank with, purely for convenience or familiarity sake, but at least you have been able to make an informed decision from ALL available options, without running around and taking any time off work!

Mortgage Brokers make a difference. Let’s keep competition alive.

On a personal level;

Everyone in the world is touched in one way or another at some point in their life by an illness or disease that takes innocent people way before their time. This year, having personally been affected, I have taken on the task of doing my bit and have signed up to the worthy ‘World’s Greatest Shave’ campaign specifically for Brain Cancer and Leukaemia research. I am aiming to raise the modest amount of just $3000 which seems like an achievable target, and have been challenged with three milestones by friends and colleagues. Reading my WGS profile page will outline what I mean. On reaching our final target of $3000 before the 13 March, I will go the full head shave, and will also have it filmed as evidence. I have already reached the first milestone of $1000 raised and the film can be found here on my Vimeo account. On reaching the final milestone the full shave video will also be        loaded, but only if we get to the target. So please, if you are able to help sponsor my campaign, it would be much appreciated. Follow this link to my WGS page and give what ever you can afford, it is all for a very worthy cause.

And thank you in anticipation.

BTW, no change from the RBA regarding the cash rate and have kept a hold on it again. So please feel free to call me on 0438 041 111 to organise a confidential discussion and how we may be able to help you get into your new property or home loan.

As always, enjoy life, work hard, play safe and remember that we are always here to help you
‘Take the Confusion Out of Lending’ 


Peter Vinci - 0438 041 111