3 great reasons to become a mortgage broker franchisee
Feeling stuck in your current job? Looking for a rewarding career in a growing industry helping others, while also seizing lucrative benefits for yourself? Maybe it’s time you looked at getting into the dynamic world of mortgage broker franchise ownership.
Whatever your background, there are plenty of reasons to look at becoming a mortgage broker. Here are three factors highlighting why now is the perfect time.
1. A growing industry
It is an exciting time to be a mortgage broker, with major lenders increasingly seeing their customers coming through broking firms in Australia. Australian Broker Online has reported that ANZ Bank’s 2015 full-year results show 48 per cent of home loans settled across the year were through mortgage brokers, an enormous chunk of money you could be claiming a piece of with your own franchise.
It’s not just ANZ though, with National Australia Bank, another of the big four lenders, showing home lending growth of $7.7 billion due to continued growth in both the proprietary and broker channels in the year to September 2015. These are promising signs for the industry, and a great reason to get into the game now.
2. Getting started has never been easier
The Australian federal government’s Jobs and Small Business package, announced in the 2015 Budget, offers a lot of benefits for small businesses and franchise holders. The ability to deduct professional costs related to starting your small business within the financial year that you incur them (as opposed to over a five year period) means it’s easier than ever to get off the ground.
Any eligible assets up to a $20,000 value can now be immediately depreciated, with no limit on the number of individual assets. So if it’s computers, office furniture or even vehicles for your new franchise, new legislation has been established to support you right from the outset.
3. Consumer trust is growing
While it may have once been seen as a fringe industry, customers are now coming around to seeing the real value of using the services of a mortgage broker. In its most recent annual consumer survey, the Credit and Investment Ombudsman found that while overall complaints against financial service providers increased, those directed at brokers fell.
There is still room for improvement, but figures like these show that the customer’s decision to secure their next home loan through a broker is becoming increasingly attractive. As a mortgage broker franchise owner, you can be a part of that decision, and experience the joy of helping guide people to home ownership.
