Former bank executive on why he made the switch to mortgage broking
Broker in Focus is a dedicated series that highlights the unique journeys of mortgage brokers, providing them with a platform to share their experiences, insights, and expertise. Through compelling personal stories and professional reflections, each featured broker recounts the key moments that have shaped their careers, delves into the challenges and opportunities facing the industry today, and shares the valuable wisdom they have gained along the way.
In this week's edition, MPA is featuring Greg Watson (pictured top), principal of Home Finance Hub, who brings 16 years of mortgage broking experience underpinned by a career spanning banking regulation, management consulting, and a stint as CFO of a mutual bank. Based in Nelson Bay, NSW, Watson made the move into broking to serve his local community and spend more time with his family — but also because he saw an opportunity to apply his financial expertise in a more personal and meaningful way.
In this profile, he also shares his views on Best Interests Duty, the growing complexity facing brokers and their clients, and why he believes education — not just advice — is at the heart of exceptional broking.
- Full name: Greg Watson
- Job title: Principal
- Company: Home Finance Hub
- Number of years in the industry: 16
- Location: Nelson Bay, NSW
How and when did you become a mortgage broker?
I became a mortgage broker approximately 16 years ago, after spending many years in the broader finance industry. My earlier career included roles in banking regulation and compliance, management consulting, senior management, and as the CFO of a mutual bank.
I was drawn to mortgage broking because it gave me the opportunity to apply that experience in a much more personal and practical way. It was also a decision driven by family circumstances — I was travelling a lot with a consulting business, and I wanted a business that kept me local more often and serving my local community, rather than constantly being away from my family.
I had also personally experienced the different stages many clients go through, including buying a home, upgrading, and investing. That meant I was not approaching broking purely from a theoretical perspective. I understood the uncertainty, the decisions, and the responsibility involved.
What attracted me most was the opportunity to educate people, guide them through the process, and help them achieve an outcome that genuinely suited their circumstances and long-term goals.
In your opinion, what has been the most positive development in broking?
One of the most positive developments has been the growing recognition of the value mortgage brokers provide, which is demonstrated by the record and increasing market share across the industry, as consumers vote with their feet regarding access to choice, expertise, and personalised guidance.
I also believe the increased focus on acting in the client's best interests has been a positive step for the industry more broadly, and for client outcomes in particular. Best Interests Duty reinforces what good brokers have always understood: this profession should be about delivering the right outcome for the client, not simply completing a transaction.
Whilst technology makes life easier, the human side remains critical. Buying a home is not simply a financial transaction. For many people, it represents security, stability, and a place to build their future. Trust, judgment, and clear communication remain at the heart of good broking.
What challenges do you see currently facing the industry?
One of the biggest challenges is the increasing complexity of the lending environment.
Consumers are dealing with changing lender policies, serviceability requirements, government schemes, rising living costs, and a large amount of conflicting information. Many clients arrive feeling overwhelmed before the process has even started.
At the same time, brokers are dealing with growing compliance and administrative demands. Good regulation is necessary, but it needs to protect consumers without creating unnecessary duplication or taking brokers away from the work that delivers the greatest value to clients.
Another challenge is ensuring technology enhances advice rather than reducing the process to a simple comparison exercise. A home loan cannot always be assessed properly on rate alone. Structure, flexibility, future plans, lender policy, and the client's broader financial position all matter.
The solution is to keep the client at the centre of the process. The best outcomes occur when the client has the right team around them.
Brokers need to explain recommendations in plain language, document the reasons behind their advice, and help clients understand the trade-offs involved. The industry should continue investing in professional development, mentoring, and practical education so that new brokers learn how to advise clients, not merely process applications.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
Some of the most memorable — and personally rewarding — experiences in my career as a broker have involved helping first-home buyers who initially felt completely overwhelmed by the process.
For many first-home buyers, the loan itself is only one part of the challenge. They are also trying to understand borrowing capacity, deposits, government assistance, lender requirements, contracts, conveyancing, property reports, and the different professionals involved in a purchase. In those situations, the most valuable thing I could provide was not simply a loan recommendation. It was education and a clear roadmap.
By breaking the process into manageable steps, explaining the reasons behind each decision, and connecting the clients with the appropriate professionals, their confidence changed significantly. They went from feeling uncertain and intimidated to understanding what they needed to do and why they were doing it. Seeing a client move from confusion to confidence, and ultimately into their first home, is one of the most rewarding parts of the profession.
The lesson I have taken from those experiences is that education empowers clients. Clients should always leave a conversation with more clarity than they had when they arrived.
When people understand the process, they are better able to ask questions, assess their options, and make decisions with confidence. A broker's role should not be to tell people what to do without explanation. It should be to give them the knowledge, advice, and support they need to make sound decisions at every stage of their property life cycle.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
My first piece of advice would be to understand that mortgage broking is a relationship profession, not simply a sales or loan-processing role.
Technical knowledge is essential, but clients also need someone who listens carefully, communicates clearly, and takes their concerns seriously.
Learn the policies, understand the numbers, and develop a strong professional network. At the same time, learn how to explain complex financial matters in straightforward language.
I would also encourage new brokers to find experienced mentors and surround themselves with people who know more than they do. I often say, "If I'm the smartest man in the room, I'm in the wrong room." The quality of the team around you will have a major impact on the quality of the outcomes you can deliver.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Sam Naragala of Mortgage Choice in Hobart, Martin Robinson of The Mortgage People, Rachelle Kroon of Sphere Home Loans, Lawry Miller of Teachers and Nurses Mortgage & Finance, Stacey Straatsma of Mortgage Choice Nowra, Jerry O'Brien of Mortgage Station, Ashley Hooker of Mortgage Choice Woronora Heights, Ben Harris of In Financial Services, Bree Rollo of Tend Home Loans, Charlotte Rubbo of In Mortgage & Finance Services, and Karen Le Comte of Mortgage Choice Cleveland.
Are you a mortgage broker interested in being featured? Email the author with your details.
