Former car sales manager shifts to mortgage broking for better work-life balance
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 had a chat with Steve Tikellis (pictured top), mortgage and finance broker at Excellence Home Loans, who shared how his journey into mortgage broking began with a leap of faith—leaving behind weekend work in the car industry to pursue a more family-friendly career. Since then, he has navigated the evolving landscape of home lending, built his own brand, and developed a reputation for resilience and client-focused service.
Tikellis also reflected on the positive impact of increased competition among lenders, the ongoing challenges facing brokers, and the lessons he’s learned from memorable deals and industry shifts.
Full name: Steve Tikellis
Job title: Mortgage and finance broker
Company: Excellence Home Loans
Number of years in the industry: Coming up to 12 years this January.
Location: Castle Hill, NSW
How and when did you become a mortgage broker?
After 21 years in the automotive sales and finance business, in roles ranging from salesperson, sales manager, and business (finance and insurance) manager, and with two young children, I was no longer motivated to sacrifice weekends for work. I decided to leave the automotive industry after my friend and broker at the time asked me to join his team as a mortgage broker. He felt I would make a great mortgage broker, as I had finance experience working as a business manager within dealerships, and I had also bought and sold a few properties over the years at that time.
This took place in January 2014 and worked well, but the daily grind of travelling to Liverpool and back from Castle Hill took its toll, especially with commitments around our young children in daycare. So, in August 2015, I made the decision to go out on my own with a Choice Home Loans franchise through Choice Aggregation.
Two years later, I was forced to rebrand, as realestate.com.au bought the CHL franchise model, so Excellence Home Loans was born—my own brand, which was still under Choice Aggregation, now LMG.
In your opinion, what has been the most positive development in broking?
The most positive development in broking is the competitive nature of all the lenders, which reduces the cost of our home loan products and improves the service of these products to our clients.
Increased competition is responsible for reducing the gap between the official cash rate of the RBA and the rate charged or offered to clients.
What challenges do you see currently facing the industry, and what solutions would you propose?
I feel one of the biggest challenges is the increasing cost of real estate in Australia, which is having a greater impact on loan affordability and servicing. A solution would be for APRA to review and reduce the 3% buffer back down to 2% to 2.5%.
Another challenge is the reworking of applications due to missing supporting documents, with the occasional document uploading or communication issue between ApplyOnline/LoanApp and the lender. A few lenders are now uploading supporting documents via the broker portal, which I find makes it less likely for documents to disappear into the abyss.
There are also differences in living expenses between what clients declare and what is evidenced by items like the client’s bank statements, impacting HEMS and loan serviceability. I tend to have lengthy discussions with clients around their living expenses—what is discretionary and what isn’t—to make the expenses as accurate as possible. I also now rarely submit applications with the client’s living expenses below HEMS.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
Early in my broking career, I had two couples who had a property they wanted to develop by knocking down the existing property and building a duplex with two granny flats, all as owner-builders. This entire scenario and experience were extremely difficult, but possible. It taught me to be resilient and never give up, to ask lots of questions, and to improve my product knowledge—especially around lender niches—eventually finding a solution and settling, at the time, one of my largest loans.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
Make sure you have an experienced broker as your mentor, ask lots of questions, and focus on learning lender policies and niches—not just their rates.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Rory Sercombe of Own Money, Brodie Brown of BH Brown Mortgage Brokers, Jason Brown of Home Loans Australia, Chris Bowers of Complete Home Loans, Jayden Pinto of Aussie Home Loans Geraldton, Larissa Barton of Mortgage Choice Coolum Beach and Noosaville, Kathy Dundas of No Fuss Home Loans, John Tindall of Accumulus Home Loans, Luke Serra of Loan & Finance Brokers, and David Meadows of Meadows Advisory.
Are you a mortgage broker interested in being featured? Email the author with your details.
