Public Relations Company

 
Public Relations Company  
 
MEDIA RELEASE 23 November 2004

Finance broking franchise model best suited for changes in the market
With the mortgage market set for a bumpy ride over the coming months and years, the finance broking franchise model is emerging as a viable long term business alternative, allowing brokers to diversify their range of products and services and evolve with the market.

These franchise models allow franchisees to write owner/occupier and residential mortgages, commercial loans, leasing and hire purchase finance for vehicles and plant and equipment, and development and construction loans.

Kevin Breen, who recently became an NCF (Northern City Finance) franchisee for the Inner West of Sydney, says that this diversity will be seriously important in the future, particularly as the mortgage market slows down.

“When looking at the different franchises available, I wanted to go with a company that offered me the chance to be a one-stop shop, and something that didn’t limit me just to mortgages,” says Kevin.

“Being part of a franchise group also means that we’ll be on top of changes to the regulation of the industry and the compliance requirements that will eventually come into force.

“I also see it becoming increasingly difficult for independent operators in the market to have access to lenders, and foresee that many may have to become part of a larger group to survive,” says Kevin.

According to Tony Harris, NSW General Manager of NCF, many in the industry already see finance broking as the way of the future as the property market cools and mortgage brokers look for ways to broaden their offering and tap into new markets.

“The switch to finance broking will be fantastic for clients, as they will have access to people with a much wider skill-set than mortgage brokers: they can literally enquire about any type of loan they may be after for personal or business purposes,” says Tony.

“However, this will also mean that the new breed of finance brokers will need to have the skills to handle the diversity of products and services, and will have to ensure they have knowledge of the finance market in its entirety.

“In the near future the strength of the broker’s brand will also become more important, and NCF’s history as finance brokers will see us well placed for changes in the market.

“Even with changes in the market, there is still a huge need for brokers, with consumers recognising the value in not having to deal directly with the lender both from a product choice and a service point of view.

“Because we’re dealing with big financial decisions – often the biggest decision clients make in their lives – it’s important that brokers don’t lose sight of the emotion that can become involved, and that we work hard to make sure the finance process is as painless as possible for the client,” says Tony.

NCF franchises are available throughout NSW, and while applicants with a banking or finance background will have a head-start, all new franchisees receive training, setup assistance and support, help with lender accreditation, marketing development and assistance, and access to state-of-the-art systems and procedures.

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Released for NCF by Dennis Rutzou Public Relations.
For further information please call Kristen Mackie on (02) 9413 4244.



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