21 Years On, Where is Mortgage Broking At?
Vision kicked off its retail activities in January 2000. Back then we had to explain to new clients what a mortgage broker was. We were like a new breed of dog people had never seen, and they were not sure if they should pat, stroke its belly, or literally steer clear and cross the road.
We were saving almost ALL clients about 1%+ on their current loans so the case for brokers was compelling, and the industry grew and grew and grew.
As mentioned in the Intro, stumbling across a Choice Magazine from September 2000 and was inspired to see if and how things had changed. Please remember the context of this article, brokers were new and cash rates had just risen to 6.25%, this proved to be a peak not seen until the ensuing GFC coming 7 years later.
There was NO MENTION of brokers in the article, there were references to Aussie and Wizard, but not brokers. I am not critical of that, but it is worth noting. Things were really just starting.
See the full article below…