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Ben Kingsley Blog post by Ben Kingsley

What does AFL, NRL and Mortgages Have in Common?

We love our sports; all the competitiveness and excitement that comes with it.  Have you ever wondered if the same spirit of sportsmanship also applies to scoring a good mortgage?

Over the weekend we have seen the two major sporting codes Grand Finals.  These sporting contests are all about making ground on your opposition and putting scoreboard pressure on them.  They are fierce contests by professional athletes and to the victor go the spoils of a premiership and for the supporters goes the bragging rights

but what’s this got to do with Mortgages?

The Answer is? Competition.  In all sports such as AFL, NRL, NFL, Netball, whatever, competition is what is all about, and from a lending point of view and in business for that matter, there is always competition for your business.

Lenders are always in the business to increase market share of the loan books they manage.  Especially in times when overall business lending is at very low historical levels, these lenders are turning to home loans as a means of increasing their profit position.

To do so, they must attract new customers both from those looking to borrow for the first time and also via refinancing existing loans away from their competitors.  The competition in these times is very tough, which is only good news for all of us who want or need to borrow money.

As a Mortgage Broker and Finance Advisor, it doesn’t get any better for the professional services we offer our clients.  You see we have a huge competitive advantage against those who think talking to their lender/bank direct is a better way to go.  A bit like kicking with a very strong wind for the whole game, because most stand alone lenders only offer about 4 to 5 loan products, however a brokerage like Empower Wealth, we have over 35 lenders who are all trying to compete to win over your business.

Unfair advantage one might say, but we don’t care because our goal is to compare the best deals in the marketplace and provide them to our clients. More importantly, not only are we at an unfair competitive advantage and we are spoilt for choice for our clients, we also have the luxury of reviewing our client loans whenever we believe it’s in the best interest of our clients.  If a better lending alternative is available then we call our clients and explain to them the potential benefits of a new loan offer.

Now how many lenders would call their clients and tell them that they are going to reduce their interest rate? – None.  Because by doing so, they will reduce profits, but we don’t work for the lender, we work for our clients in everything we do.

If your team won this year – Go Sydney Swans and Go Melbourne Storm – then congratulations.  If you’re like me and your team didn’t get up, then there is always next year, when the competition begins again on the main sporting fields of Australia.  However you could be a winner this year if you want your loan reviewed against the competition, simply request a Free, no obligation consultation with us and we’ll undertake an extensive review of your lending and home loan options.

PS – If you are an existing client of ours you know you have the peace of mind, that we are reviewing your loans on a regular basis.

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