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ISCOVER
We all breathe a sigh of relief when a non-conforming client's loan is settled. Another approval is through and commission is on its way. A job well done.
But in truth, it's only just begun. The post-settlement follow-up and service you then provide these customers is what ensures you can turn them into prime clients in the future.
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Here are the four steps I follow to make sure our non-conforming clients are looked after so they're allowed to refinance to a prime product if and when it meets their needs.
1) Monthly newsletters
Every client goes on our newsletter distribution list. This means we stay front of mind with our customers. With informative news articles and finance tips included each month, our newsletters help clients stay in the zone of 'keeping on track'.
2) Quarterly contact
Clients are contacted either by phone or letter every quarter to see how they're going. This is a good way of checking they're maintaining their repayments and getting ahead. It also means we can help resolve any issues they may have had post-settlement.
3) Complimentary budgeting service
We offer help with budgeting through one of our referral partners. By offering this service clients know they can pick up the phone to a professional and have any questions they may have about saving, debts or cost-of-living expenses answered.
4) Yearly credit checks
With most clients we already know a rough timeframe for when they can apply for prime finance. However, yearly credit checks allow clients to keep on top of what is happening with their credit rating and to see if they can apply for a prime rate sooner.
Peter Ellis, franchisee, Loan Market
Peter Ellis is a credit solutions specialist from Victoria with seven years’ experience, who focuses on non-conforming lending. He realised a real need within Australia for a one-contract solution for individuals and families who have had a life event or not-so-clean credit history and want a way to end their financial frustration and pressures. He works with brokers from around Australia to make non-conforming a part of their business, whether by doing it with them or offering education and advice.
