"Every bank has its own quirks"
While mortgage advisers always strive to put clients first, senior mortgage adviser Becs McCallum (pictured) has built her reputation on something more specific: proactively educating clients about opportunities they're missing, rather than waiting for them to ask the right questions.
Operating from Loan Market, McCallum has turned this philosophy into a practice that consistently delivers results.
She was recently recognised as one of NZ Adviser's Best 25 Mortgage Advisers in New Zealand. McCallum told NZ Adviser that she sees a lot of opportunity in the industry as it is today - both for established advisers to lead in education and advocacy, and for lenders to step up and make the process easier.
Breaking through misconceptions
Advisers have been operating in a tough environment lately. McCallum notes that navigating a steady stream of policy and legislative changes, as well as global uncertainty, has been one of the biggest challenges, particularly around the CCCFA, LVR restrictions, and bank servicing criteria.
"These shifts can create confusion for both clients and advisers, requiring us to stay agile and well-informed." McCallum said.
"Economic uncertainty and interest rate volatility have made it harder for clients to plan confidently, which puts more pressure on advisers to provide clarity and reassurance.”
Perhaps nowhere is this need for clarity more evident than in the first-home buyer market. Over the past two years, McCallum has witnessed a troubling trend of qualified buyers sitting on the sidelines, held back mainly by assumptions about their eligibility.
"Many first-home buyers are closer than they think to being ready, but they're held back by misinformation or fear," McCallum said.
"Advisers need to proactively educate clients about evolving bank policies, Kāinga Ora support, and creative structuring options - like using flatmate income, guarantor loans, or gifted deposits to help them move forward.”
Seizing industry-wide opportunities
New Zealand's adviser market share is growing, and is trending toward Australia's impressive 77% third-party rate. McCallum says there is a “huge” opportunity for advisers to take the lead on advocacy, shape the narrative around lending and build trust with the public.
“Established advisers have the chance to mentor newer brokers, collaborate across networks, and influence policy by sharing real-world insights,” she said.
“It’s also a great time to diversify – whether through investment lending, business finance, or digital tools that enhance client engagement.”
Looking ahead, she noted that the lending sector also has its part to play. The main banks in particular still need some encouragement to engage more meaningfully with advisers, and to introduce processes that make things quicker and easier.
“I’d love to see more consistency and transparency across lenders,” McCallum said.
“Every bank has its own quirks, and while that creates opportunities for tailored advice, it also adds unnecessary complexity. A more unified approach to servicing criteria and documentation would reduce friction for clients and advisers alike. It would also allow us to focus more on strategy and education rather than chasing paperwork.”
However, she adds that advisers also need to “work smarter” by embracing technology platforms that benefit everyone – banks, advisers, and clients. A lot of the slow pace currently comes down to ‘double handling’ between different parties. Throwing some weight behind eliminating this would be a substantial improvement for everyone.
“With better integration in the digital submission space, we can achieve great customer outcomes across the board,” McCallum said.
“For example, Kiwibank recently launched digital submission, and I had a client receive approval within 24 hours of submitting their application. That’s the kind of efficiency we should be aiming for industry-wide. I look forward to seeing other banks transition to similar systems.”
