Amid rising costs and tighter regulations, this veteran broker remains focused on helping young Australians onto the property ladder
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.
MPA recently caught up with Leo Cagliolo (pictured top), senior credit advisor at Professional Mortgage Managers, who has spent more than 25 years in finance and the past 14 years helping Australians secure the right home loan. Based on Queensland’s Sunshine Coast, Cagliolo made the leap from mobile lending manager in the banking industry to mortgage broking, driven by a desire to offer clients a broader range of lenders, products and tailored solutions.
Today, he relishes guiding the next generation of borrowers into the property market – often the children of long-term clients who now trust him with their own families and friends. But that satisfaction comes against a backdrop of heavy regulation, elevated assessment rates and soaring living costs, all of which are squeezing borrowing capacity and making it harder for would-be homeowners to get a foot on the ladder.
For Cagliolo, the key lies in leveraging rapidly evolving digital technology to improve communication, sharpen needs analysis and keep the process as transparent and efficient as possible, while never losing sight of the simple principle that treating people well earns their trust for life.
- Full name: Leo Cagliolo
- Job title: Senior credit advisor
- Company: Professional Mortgage Managers
- Number of years in the industry: 25 years in finance overall
- Location: Sunshine Coast QLD (Coolum)
How and when did you become a mortgage broker?
I became a mortgage broker in May 2011, after spending over a decade in the banking world as a mobile lending manager. I joined the broker world after realising that, in order to offer my clients a much wider range of lending options, I would require access to a wider range of lenders and products.
In your opinion, what has been the most positive development in broking?
In my opinion, the most positive development in broking is the ever-developing digital technological advances, which allow the broker to better communicate and assess customer needs, as well as provide tailored solutions. The communication process is more transparent and a lot more efficient than it was in the early days.
What challenges do you see currently facing the industry, and what solutions would you propose?
I think the most challenging aspects in our industry currently are the heavy regulations set by the governing bodies and the elevated assessment rates set by the banks, which in turn reduce customers’ borrowing capacities.
In an environment where the cost of living is astronomical in Australia, it makes it tough for brokers to meet servicing requirements for their clients. A more relaxed and slightly reduced assessment rate would allow more clients to enter the housing market..
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
The most joy I get out of my job as a mortgage broker is getting young people into the housing market. These young ones are usually kids of existing clients that I have been looking after for many years. Now they are referring their children, family, and friends to use my services. This gives me a sense of pride in the fact that they entrust me with their loved ones.
A major lesson I learned is that if you treat people well, they will in turn trust you to look after their people.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
Mortgage broking is a very challenging profession and, at the same time, very rewarding on many levels if you are prepared to do the right things by clients.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Raj Ladher of Mortgage Wealth, Chris van Rijswijk of Northern Beaches Wealth Home Loans, Ajay Krishnan of Home Loans Fast, Fae Kett of Tembo Money, Tanya Seth of Simpl Home Loans, Steve Tikellis of Excellence Home Loans, Rory Sercombe of Own Money, Brodie Brown of BH Brown Mortgage Brokers, Jason Brown of Home Loans Australia, and Chris Bowers of Complete Home Loans.
Are you a mortgage broker interested in being featured? Email the author with your details.
