Oakeshott meets with Coffs Harbour Mortgage Brokers | Rob Oakeshott | Independent for Cowper
Independent candidate for Cowper, Rob Oakeshott, has held a roundtable discussion with local mortgage brokers about the future of the industry in the area.
“Our region has around 40 mortgage broking businesses providing valuable competition for customers. They are small businesses that are growing and employing people. Each currently has between two and 10 staff.
“I know many people who have used local mortgage brokers to access finance. It's a worthwhile service for customers needing advice on their options and what is in their best interest.
“Of the 76 recommendations in the Hayne Royal Commission into Banking and Finance, the four that target mortgage broking make the least sense. These local small businesses have an obligation to show their customers all options and all costs involved in any offer. And that includes their own fees.
"So long as all information is fully disclosed to the customer regarding their borrowing capacity and the basic principle of "buyer beware" applied, then this is a legitimate service for our local markets.
"I don’t think mortgage broking has been a driver of the problems in the banking sector that led to the Royal Commission. If anything, they are part of the solution in providing healthy competition in the market.
"Also, many people like having an old-fashioned, face-to-face relationship with their lender of choice, and this shouldn’t be lightly discarded.
"Regional Australia is being pushed more and more to go on-line for banking and finance, and that works for some. But others are struggling, especially given that the technological infrastructure has not been properly built.
“My goal and my role is to ensure good customer outcomes in the lending market, to stand up for regional small business, and to promote competition principles in the marketplace. I want to ensure our local economy can and will thrive, even if there are some dark clouds on the horizon for national and global economies."
Photo from left to right:
Rod Cross - Regional Finance Solutions
Derek Jordan - Aussie
Craig McGregor - My Mortgage Manager
Christina McGregor - My Mortgage Manager
Dennis McConnell - Your North Coast Money Man
Derek Lodge - Liberty Financial
For further details please contact Deb Spillane.
Email: firstname.lastname@example.org Phone: 0418 603513.