By Jill Fraser for Lending Central

Melbourne-based broker Daniel Thorpe, Managing Director Thorpe Financial Services Pty Ltd says; “in the coming New World it will only require a minor shift in lenders’ policies to do away with aggregators”.

Thorpe contacted Lending Central and offered to put forward the broker’s perspective regarding the changing market.

He maintains that the broker perspective is constantly being trivialised as “whinging”. His argument is that the opposite is true - brokers are adapting to change but not so lenders and aggregators to anywhere near the same extent.

“It’s becoming increasingly clear to me that aggregators - the middlemen - are the one part of the equation that could disappear,” he says.

“The banks have established individual criteria. Their rules vary but essentially they all state that unless brokers submit a specified number of loans a quarter they’ll lose their accreditation.
Full Story