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A global leader in mortgage broking solutions has launched two innovative platforms to help brokers capitalise on the surge in new home building and first home buyer activity.
With the number of new home building approvals up 40% since June, MAB is now using proprietary technology solutions to help its brokers meet the growing demand for new home building.
The new build boom shows no sign of slowing down, with the latest ABS figures revealing building approvals for private sector houses (excluding units) up 6.1% as Australians continued to take advantage of Government incentives including the new HomeBuilder grant.
MAB Australia CEO Darren Cantor said the new build boom is driving significant volumes for the brokerage.
“The COVID-19 pandemic has changed the way Australians live and work. We are seeing increasing demand for the traditional family home as people realise they no longer need to live close to the city.
“Social distancing measures and changes to workplaces have created unprecedented demand for knock-down rebuild and new home construction across the country.
“We see this trend continuing throughout 2021 and supported by a range of Government incentives designed to promote new home construction.”
Capturing and nurturing leads
Mr Cantor said most mortgage brokers have traditionally shied away from working with clients on new home construction.
“In Australia, brokers typically favour existing properties or off-the-plan purchases that don’t involve working with a builder, but with the right tools and support there’s plenty of opportunities available” he said.
MAB Australia, which is backed by the largest mortgage brokerage in the UK, recently launched MABrefer, an innovative lead management tool that leverages the technology and experience of its parent company.
Supporting First Home Buyers
First home buyer activity has increased dramatically over the past 12 months, buoyed by a bevy of Government incentives. Despite COVID-19 creating financial insecurity for many Australians, 44% of Millennials say buying a home is one of their top savings goals for the next five years.
“Younger Australians and those looking to enter the property market for the first time have been out in force despite the COVID-19 pandemic,” Mr Cantor said.
MABSavers has been designed by combining proprietary technology and an extensive array of third-party integrations to cover every aspect of an individual’s financial world to help first home buyers through the journey.
MAB understands the demands placed on brokers regarding compliance and regulation has never been higher so supporting brokers to grow their customer base through technology is essential.
“MABSavers has become a critical lead management tool for our brokers, enabling them to build a pipeline of future mortgage clients while promoting healthy financial behaviours and increasing financial literacy,” Mr Cantor said.
Built around the customer
Mr Cantor said MABrefer, MABSavers and the entire MAB proposition have been built around the customer.
“MAB is a business that has embraced change and harnessed the best in telephone-based broking, technology and digital channels to be driven by what the customer wants,” he said.
“Our multi-channel approach to mortgage broking is aligned to the way customers want to research their home ownership options, engage with a broker and transact. Some customers may enjoy meeting a broker face-to-face. Other may be happy to work with them over the phone or digitally.
“Few brokers have the infrastructure to allow customers to use whichever channel they prefer, at any stage in the process. That’s what MAB has brought to the Australian market: a mortgage broking model that puts the customer first.”
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