Training support still priority for brokers amid COVID-19 crisis


Access to training support remains the key priority for mortgage brokers amid the “uncertain landscape” shaped by the coronavirus pandemic.

According to Loan Market executive director, network success Andrea McNaughton, access to training and technology remains the chief among the priorities of the group’s broker network as they grapple with the business and economic challenges posed by the coronavirus (COVID-19) outbreak.

Ms McNaughton told The Adviser that that Loan Market brokers remain focused on overcoming customer services challenges that have emerged as a result of social distancing requirements enacted to curb the spread of the virus.   

“We’re in the midst of an uncertain landscape that has changed how we interact with each other and our customers, and we are flooded with an ever-present and changing noise on traditional and social media,” she said.

“It’s understandable for people to feel anxious.

“At the moment, we are listening carefully to what our brokers need from us – this may change in the future – but right now they want training support, tools and technology for them to continue servicing customers in this new world.”

Ms McNaughton said the aggregator would commit resources to “upskilling” brokers by facilitating access to webinars and online training hubs, while also ramping up communication frequency.   

The Loan Market executive also stressed that the group would provide brokers with access to counselling services through its AssureFirst service, to support their mental health and wellbeing.  

“Loan Market is a community that cares for one another and we will support each other through these uncertain times.”

Loan Market joins several of its peers in extending training and technological support to their broker networks as they manage the evolving pressures associated with the outbreak.  

Both the Mortgage & Finance Association of Australia (MFAA) and the Finance Brokers Association of Australia (FBAA) have also been actively consulting with lenders to ensure their policies align with new customer service arrangements.   

The associations also successfully received assurance from lenders that trail commissions would be secured for brokers assisting customers that have slipped into hardship as a result of the coronavirus outbreak.