13:18, 20 Oct 2020
4 minutes to read
Promoted by Lendi
With changes to responsible lending rules on the horizon, the role of mortgage brokers in protecting the best interests of borrowers will become increasingly important. The mortgage platform, Lendi, has always had its own policy of interest at the heart of its model and considers it one of its strengths.
Home loan clients risk no longer being protected by regulations introduced after the global financial crisis to ensure banks do not recommend unsuitable products.
Sebastian Watkins, COO at Lendi, believes the changes designed to free up the credit flow are good from a macro perspective, but he’s not convinced that all clients benefit.
“If banks have no obligation to act responsibly or in the best interests of customers, those who go directly to a lender for a loan may gain the upper hand,” he said. “Clients who use mortgage brokers will be protected by the going into effect of the higher interest obligation, but there is still 40% of the market that goes directly to the lender and that’s what we get. let’s worry. “
Lendi has had a best interest policy coded into its platform since its launch in 2016.
“When we first designed our platform in 2016, we knew that by protecting the best interests of our clients, we would be able to differentiate ourselves in the category not only through our technology, but also through our culture and our customer-centric approach, ”said Mr. Watkins.
Lendi’s cutting-edge technology compares hundreds of customer data points to thousands of data points from over 35 lenders in their panel to find the most suitable and competitive home loan based on needs, circumstances and of the borrower’s individual goals.
“Our culture is largely based on our mission to change the way Australians get home loans by making the process more customer-centric by improving safety, efficiency, transparency and results,” Mr. Watkins.
This customer-centric approach, coupled with cutting-edge technology, has allowed Lendi to continue to grow despite the headwinds of 2020.
Their team now numbers over 470 people and continues to grow.
Lendi recently took a flexible approach to its employees and workspaces first, where individuals can designate whether they want to work in the office or remotely and what proportion of time they will spend in these different workspaces.
Find out more about job opportunities with Australia’s # 1 mortgage lending platform here.