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Pepper Money director of sales and distribution Mario Reyahem shares how brokers can explain a specialist lender’s service proposition.
A specialist lender’s role is to fulfil the customer’s unmet needs, whether that is in the form of product niches or a more personalised service.
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The best way brokers can offer a specialist lender’s proposition to clients is to associate the reason for the recommendation to the brand and product.
For example, if you had a client who was knocked back by a bank or mortgage insurer due to their credit score, you would recommend Pepper Money by advising the client that it has a more flexible approach in its assessment process and does not rely on credit score algorithms (computer assessment versus human intervention) to determine the fate of their application.
By doing this, the client doesn’t feel isolated and has a true understanding of why they have been recommended a specialist lender as opposed to one of the majors/non-majors.
Brokers need to support lenders that have their customers’ best interests at heart. Lenders’ brand awareness will strengthen the broker’s recommendation by having an external association to the brand.
We have strategically aligned Pepper Money with key sporting clubs, the St Kilda Saints, the Western Sydney Wanderers and the Penrith Panthers, are supported by local area marketing – radio and local papers – with a call to action for customers to contact their local mortgage broker.
Brokers should become familiar with the adverts and messaging, and be prepared when customers ask for a Pepper Money loan.
