Loan Market Metro hits $300m in Home Loans
‘Client first, always’
Given the turbulent market movements, rising competition and processes moving to a more digital format, how has this small team of eight reached such a number?
Simon puts it down to ignoring figures, and focusing on people.
I started Loan Market Metro seven years ago, just as myself at the time. I had no support staff, no administration, marketing or even a website to begin with. That meant that I need to focus on the individual outcomes for every client, and somewhat ignore any distractions; it was ‘client first, always’.
His client first mentality began to get recognition in the industry. In less than 12 months of operating, Simon was nominated and subsequently won the new New Zealand Advisor of The Year award - taking out the Best New Advisor in the Industry category.
For two years running, he was then awarded best customer service based on client feedback across the Loan Market network - a total of 150 advisors.
Two years later, Simon was nominated for the general overall National Mortgage Adviser Awards, as well as seeing the 2019 - 2020 period move him up to Platinum Elite status within the Loan Market community.
While these awards were well received, the mantra to always keep the client first set the foundation of the businesses values. Today, this is reverberated across the office walls and throughout the eight person team.
Growing the team & the results
As the business foothold was developed, Simon began to bring on new team members that shared the same values and could help produce further value for clients.
Today, there are four support staff, two contract mortgage advisors, and a new insurance advisor to assist all clients with their risk needs. Collectively, the output focuses on the outcomes of what individual clients are looking to achieve.
Where banks will typically juggle borrowers between advisors, complex forms and terminology, the Metro team looks to simplify and break these steps down to easily understand.
The evidence of this approach can be seen in the 150 plus reviews the team have over Google; something again that they are recognised in the market as being one of the top leaders in.
In a recent review, Nick mentions the trouble with his bank.
We contacted [Simon] late notice, after some issues with the support we were getting directly from our bank, and it was not [a] problem for him.
In November, 2020, another review wrote:
We were recommended to Simon by a friend, we approached him after attempting to use two other mortgage brokers who put our application in the “too hard” folder. Unlike other mortgage brokers we’d approached, (who told us we would never get approved) he was helpful and optimistic about our application.
The evolution of the market
The lending environment continues to grow more complex as new regulations and changes to the landscape between first home buyers and investors develop.
A lot has changed in seven years. We’ve seen major shifts to interest rates for example. When I started back in 2014, interest rates for a two year fixed rate mortgage were about six percent. Now, They’re sitting at about 2.4% to 2.5%
There has been significant government legislation, changes to policies around loan to value ratios. We’ve seen the introduction of new financial advice and we’ve seen the pullback of the banking network to have less of a footprint, less staff and ultimately less access. All these things get overwhelming for those new to the industry.
Nowadays, more borrowers are seeing the value in dealing with advisors; an increase from 20 to 50% in the last few years alone. This reinforces what impact professional advisors outside of high street banks can have on the industry.
In this interesting but complex world of home lending, Simon Maule and his team of eight continue to invest in ensuring their clients understand.
It’s a wonderful time for the team. The office and the atmosphere is positive and upbeat as it has always been. But $300 million in written home loans is a number that says a lot about the direction the industry is headed.
However, the team won’t be distracted from what Loan Market Metro are best at - putting clients first.