From banking to mortgage advice: why the latter is so rewarding

Adviser discusses her move from one end of the market to the other

From banking to mortgage advice: why the latter is so rewarding

You don’t need to have worked within a bank to know that securing a mortgage is getting tougher - but for one adviser, having to tell customers ‘no’ too many times is what prompted her to make the move into mortgage broking.

NZ Adviser Young Gun 2019 Kylie Connor, mortgage adviser at Mainland Mortgages, started her career at a major bank before moving to the Timaru-based brokerage, where she found much more possibility in making the property ownership dream happen. According to Connor, the flexible nature and outside-the-box solutions that come with mortgage advice make it one of the most satisfying careers to take on, and she hasn’t looked back.

“I was working for a bank as a personal banker, and I was ready for a new challenge and something that would offer me a bit more flexibility for my family,” Connor told NZ Adviser.

“My favourite part of my old job with the bank was helping people get into a new home, whether that be their first home, their dream home or helping grow their property portfolio. The most frustrating moment was when the policy of the bank didn’t fit my customers, and I couldn’t help them. Being able to be independent from one particular bank and offer my clients the best solutions across different financial institutions is perfect for me.”

“The best part of my job as an adviser is seeing how happy people are when they get approved to purchase their dream home,” Connor continued. “This is especially true of the first home buyers, who are usually quite unsure and nervous about the whole process when you first meet them. Being able to work with them every step of the way and see how happy they are when it all comes together is incredibly satisfying, and makes all the hard work worth it.”

In one particular case, Connor recalls working with a young first-home buyer client who had received some poor advice and was facing a potentially significant cash loss. She says helping clients navigate these circumstances and placing them back on the path to home ownership makes the job incredibly rewarding, and makes for some unforgettable client experiences.

“This one client had put in a cash offer in on a property without even a pre-approval or any insurance investigation on the property, which was over 100 years old,” Connor explained.

“Her bank then declined finance, and she was referred on to me by another client. When we first met she was incredibly upset and worried about losing the cash savings she had used to pay her 10% deposit, but within two days we got her an approval at another bank, and she was so incredibly grateful and happy. She moved in to her new home today and called to thank me again – the absolute joy in her voice was priceless, and something I won’t forget.”

“In 10 years, I would love to have grown Mainland Mortgages so that we have at least one more fulltime mortgage adviser working alongside me,” Connor concluded. “The mortgage advice space in South Canterbury is starting to take off and I really want us to be the leading name in our industry.”