Applying for a home loan can be an emotional time for clients. Our 5 Step Process can help you to position an alternative home loan to your clients, when they may have been expecting an option from a traditional lender.

Why use the 5 Step Process?

  • Improve client satisfaction: Better manage your client’s expectations and create a positive way forward.
  • Increased conversion: Help more clients by providing a wider range of options, which could increase your conversion rate from interview to settlement.
  • Maximise referrals: Your clients are more likely to refer you when you can provide them with options they might not have otherwise been provided.
  • Create a client for life: By taking into consideration your clients long term objectives, you can begin to create the foundations for a long-term relationship.

How can I introduce an alternative solution to my client?

When understanding your client’s situation, it may become clear, that an alternative lender could help realise their goals. To help you successfully present an alternative option to your client, we’ve developed a unique 5 step process.

 

1

 

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Acceptance

Start by helping your client understand why they may not be eligible for a loan with a traditional lender. Be empathetic and understanding of their situation.

 

2

 

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The alternative

Outline the alternative options you’ve identified, highlighting how these products meet their needs. This will provide them with a level of comfort, even if they aren’t familiar with the brand.

 

3

 

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The repayments

Speak in terms they understand. Calculate their repayments in a frequency that coincides with their pay cycle. You can identify a client’s indicative interest rate, fees and repayments by using Pepper Product Selector (PPS).

 

4

 

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The long-term view

Explain how this solution could fit their long-term objectives and help get them on-track to achieving their property goals sooner.

 

5

 

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The application

With your client’s consent, you can proceed with their application.

 

 

Before using Pepper Product Selector, it is important to ensure you have received your customer’s written consent to act on their behalf as an Access Seeker.  All applications are subject to credit assessment and loan eligibility criteria.  Terms and conditions, fees and charges apply. An indicative offer is not a formal approval for a loan and financial commitments must not be entered into based on it. It is not a suggestion or recommendation of any particular loan product. It is a guide only based on the limited information provided and the credit score obtained. An indicative offer is valid for 30 days. The actual interest rate and fees will depend on the borrower’s circumstances and the information verified during the loan application assessment.