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A mortgage funder has reported that its new client retention initiative has helped brokers retain nearly 2,500 customers, equating to $1.2 billion in retained footings.
Wholesale funder Advantedge Financial Services has announced that the first six months of its Mortgage Rollover Campaign has helped brokers retain 94 per cent of their customers.
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The initiative sees the NAB-owned mortgage funder's Mortgage Retention Unit contact brokers whose clients are nearing the expiry of a fixed rate or interest-only period on their home loan, in a bid to encourage them to have a conversation with their client. Likewise, the unit also sends a letter to the customer directing them to call their broker, and providing their broker’s contact details.
According to Advantedge, the campaign has been positively received by brokers, many of whom said they didn’t have the time, information, or resources to pursue such a campaign themselves.
Brett Halliwell, general manager of Advantedge, said that the results were “staggering” and formed part of the company’s strategy to “[put] brokers in the box seat by empowering them to have more informed, important conversations that strengthen customer-relationship”.
He added: “Current market conditions have created a competitive market where customers find it increasingly easy to refinance, but they may risk making sub-optimal selections if they process ed without advice from their mortgage broker.
“In this context, it is especially important for brokers to take advantage of opportunities to speak with their customers and provide ongoing value-adding services. Our campaign helps brokers do this, empowering them to ‘check-in’ at pivotal moments to maintain strong relationships.”
Advantedge has said it intends to extend the Mortgage Rollover Campaign across its entire portfolio in future.
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