Building Lender Relationships: Why Great Brokers Treat BDMs as Business Partners

Brokers who invest in lender relationships consistently achieve better outcomes, faster approvals, and more sustainable businesses

In mortgage broking, relationships are often discussed in the context of clients and referral partners. Yet one of the most influential relationships in a broker’s business is often overlooked: the relationship with lender Business Development Managers (BDMs).

At a recent Vision Aggregation Mentor Workshop, industry leaders Dean Cocks (NAB), Paul Mezrani (Bendigo Bank), Alison Darling (Resimac) and Russell Adams (Firstmac) shared their perspectives on what separates average broker-lender relationships from exceptional ones.

The discussion revealed a simple truth: brokers who invest in lender relationships create better client outcomes, achieve faster approvals and ultimately build more sustainable businesses.

The Best Brokers Don’t Treat BDMs as Help Desks

One of the strongest themes throughout the workshop was that high-performing brokers don’t simply contact lenders when something goes wrong.

Instead, they actively build relationships before they need assistance.

According to the panel, successful brokers understand that a BDM is not simply a source of policy answers. They are a strategic business partner who can help brokers navigate lender appetite, workshop complex scenarios and avoid unnecessary delays.

The relationship becomes particularly valuable when a broker understands a lender’s strengths, weaknesses and preferred customer profiles.

Rather than approaching every lender with every deal, top brokers develop familiarity with a core group of lenders and learn how those organisations assess risk, calculate servicing and interpret policy.

The result is greater confidence, less uncertainty and more predictable outcomes.ns.

Workshop Deals Before They Become Problems

Every panel member emphasised the importance of workshopping deals before submission.

Too often, brokers invest significant time preparing an application only to discover a policy issue, servicing problem or documentation gap after the application reaches credit assessment.

Alison Darling highlighted that many potential issues can be resolved before lodgement if brokers provide sufficient information upfront.

By sharing servicing calculators, loan notes, credit reports and supporting information early, BDMs can identify concerns before they become roadblocks.

This proactive approach creates benefits for everyone involved:

• The broker avoids unnecessary rework.
• The lender gains confidence in the application.
• The assessor receives a cleaner submission.
• The client experiences less stress.

The panel’s message was clear: if you’re unsure, ask before lodging.

Tell the Story

One of the most valuable insights from the session was the importance of storytelling.

Modern lending systems are increasingly automated, but lending decisions are still made by people.

• A credit report may show a missed repayment.
• A servicing calculator may show a tight position.
• A bank statement may reveal unusual spending patterns.

Without context, these can become concerns. With context, they often become manageable.

The panel encouraged brokers to clearly explain life events and circumstances that have impacted borrowers.  Divorce, temporary unemployment, illness, business interruptions or one-off financial setbacks can all influence a customer’s financial position.

When the story makes sense and is supported by evidence, lenders are often far more willing to consider exceptions or alternative approaches.

The message was simple: don’t assume the assessor will connect the dots.  Help them understand the story.y.

Great Loan Notes Are a Competitive Advantage

Several panel members highlighted loan notes as one of the most underutilised tools in a broker’s process.

Many applications contain extensive supporting documents but very little explanation.

As a result, assessors are forced to interpret the information themselves.

The strongest submissions contain concise summaries that explain:

• The purpose of the transaction.
• The customer’s background.
• How income has been calculated.
• Any unusual circumstances.
• Any known policy considerations.

The panel suggested using bullet points and keeping explanations clear and concise.

A well-written loan summary reduces assessment time, minimises clarification requests and demonstrates professionalism.

Importantly, it also creates a useful reference point for brokers managing multiple applications simultaneously.

Communication Matters

The panel repeatedly returned to communication quality.

Lenders receive hundreds of emails, phone calls and messages each week.  The easier a broker makes it to understand a scenario, the easier it becomes to provide assistance.

Several practical recommendations emerged:

• Use bullet points.
• Clearly state the question being asked.
• Provide all relevant information upfront.
• Avoid lengthy email chains.
• Refresh a BDM’s memory when revisiting older scenarios.

Clear communication saves time, reduces misunderstandings and allows lenders to provide more accurate guidance.  As one panel member noted, concise communication often results in quicker, better answers.

Not Every Lender Is the Same

An important reminder throughout the workshop was that lenders have different policies, processes and risk appetites.

A strategy that works perfectly with one lender may be completely unsuitable with another.

• Some lenders are highly automated
• Others rely more heavily on manual assessment
• Some prioritise speed.
• Others prioritise policy flexibility.
• Some accept certain income types.
• Others do not.

The panel encouraged brokers to spend time understanding these differences and to avoid making assumptions based on previous experiences elsewhere.

The most successful brokers understand where each lender fits within their broader lending toolkit.

Escalations Are Not a Strategy

The discussion around escalations was particularly insightful. While brokers often view escalations as a way to accelerate applications, lenders see them differently.  The panel agreed that escalations should be reserved for genuinely urgent situations where there is a clear business reason.

Examples include:

• Expiring finance clauses.
• Imminent settlement deadlines.
• Potential financial penalties.

Importantly, lenders need context.  Simply asking for an escalation without providing dates or reasons makes it difficult for teams to prioritise effectively.

The broader lesson was that good lender selection and proactive communication often eliminate the need for escalation in the first place.

Relationships Create Better Outcomes

Perhaps the most important takeaway from the session was that lender relationships are ultimately built on trust. 

BDMs are more confident supporting brokers whose work they understand.  Credit teams are more comfortable assessing applications that are well presented.  And brokers who consistently communicate clearly build reputations that benefit future submissions.

Relationships are not built through volume alone.  They are built through professionalism, transparency and consistency.

Whether you’re a new broker writing your first deal or an experienced adviser managing a substantial portfolio, investing in lender relationships remains one of the highest-return activities available.

The brokers who do it well gain more than faster approvals.  They gain trusted partners who can help them navigate an increasingly complex lending environment.

Final Thoughts

Technology continues to transform mortgage broking, but relationships remain at the heart of the industry.

The strongest brokers understand that lender relationships are not transactional.

They are collaborative.

By communicating clearly, workshopping scenarios early, understanding lender differences and treating BDMs as business partners, brokers position themselves for better outcomes, stronger client experiences and long-term success.

In an environment where policy, pricing and market conditions constantly evolve, the value of trusted lender relationships has never been greater.

Get your copy of the 10-Point Readiness Reckoner here and start building stronger, more strategic lender relationships today.

Disclaimer

The information contained in this article is general in nature and is intended for educational and professional development purposes only. It reflects insights and opinions shared by participants during a Vision Aggregation Mentor Workshop and should not be interpreted as lending, credit, legal, taxation or financial advice. Lending policies, credit criteria, pricing and service levels vary between lenders and may change without notice. Brokers should undertake their own due diligence and refer to current lender policy before providing advice or lodging applications. Vision Aggregation accepts no responsibility for decisions made based on the information contained in this article.