NCCP to drive broker market share

Mia Santoromito

NCCP will help brokers grow their market share, general manager NAB Broker distribution John Flavell has claimed.

“While brokers have found NCCP to be more onerous in terms of time and effort, the rewards far outweigh any the effort,” he said.

“Consumers feel a lot more comfortable about the industry now that it is licensed and regulated. So while there are complexities associated with licensing, I think it positions brokers very well in the eyes of the consumer," Mr Falvell told The Adviser.

Mr Flavell said the more professional brokers are perceived to be by borrowers, the more likely these borrowers will be to utilse their services.

Moving forward, Mr Flavell thinks brokers will be in the ideal position to take advantage of licensing to provide borrowers with “true financial guidance and advice”.

“NCCP represents a huge opportunity for brokers. Those that provide guidance and support are well positioned to take some of the direct-to-bank customers and grow their share of the mortgage market.”

Westpac’s general manager mortgage broker distribution Tony McRae agreed and said while some brokers were still trying to adapt to the changes that have come about as a result of licensing, there were many positives to be taken from NCCP.

“NCCP has forced brokers to change and adapt. Those who embrace NCCP as part of their service offering and work within the guidelines of their lender partners, will create greater opportunities to provide more positive experiences to their clients and help lift the overall professionalism of our industry,” he said.