Peach Home Loans and why I became a mortgage broker

In the 80's and 90's I spent much of my time studying and advising on industry restructuring. Around 1999 I was considering mortgage finance for my own needs and recognised just how outdated and inefficient the Australian home mortgage market was.

The role of the stock broker had been turned on its head in the 90's with low cost online services and I realised that mortgage broking and banking in general really could use a similar shake up. And so I began Peach Home Loans as a discount mortgage broker ie: offering a discount in the form of a rebate or refund of part of the commission that lenders pay to brokers.

Of course existing mortgage brokers said I was crazy and strangely some banks weren't too keen. However we weren't cutting prices or services we were simply going to do things better ie: arrange home loans more efficiently. It is this efficiency that produces the additional profit that allows us to provide commission rebates

Today more than 10 years later the staff at Peach are still arranging home loans and refinancing people all over Australia - they even arrange loans for Aussies overseas through our Expat Home Loans division.

The market has changed dramatically over the last 10 years with competition for the banks waxing, was I crazy? I guess not.

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