Indians top the New Zealand mortgage market
Indians are the top mortgage brokers in the country, according to ‘The New Zealand Mortgage Mag’. Top three positons in the recent top broker list released by the well-known mortgage magazine are occupied by the Indian brokers. According to the magazine Squirrel mortgage, Global Finance Services Ltd. (GFS) and Professional Financial Solutions Ltd. (PFS) are the top three mortgage brokers in the country respectively.
The ranking has been decided on the basis of the number of loans settled and the amount loaned to the customers during the year financial year 2013 by any mortgage adviser. Where Squirrel’s team has generated settlement of $300m from 700 deals, GFS has given a tough competition with $290m settlement amount from 702 deals.
It is noticeable that where Squirrel has topped in multiple brokers’ list, GFS has been standing high with its top position in single brokers’ list. Difference between multiple and single broker is that a single broker originates all loans alone by itself, whereas in case of multiple broker, a team of brokers originates a total amount of loans.
Indians are doing great jobs in various sectors in New Zealand and this list has also reveal how Indians are growing in business and finance sector. This is more commendable for the brokers who have single-handedly achieved this status, i.e. Ajay Kumar from GFS and Ravi Mehta from PFS.
Considering single broker category Professional Financial Solutions limited (PFS) has grabbed second position in the list originating 276 loans and settlement amount of $112m. Ravi Mehta, the winner broker, of PFS says, “This year has seen a 25% increase in volume.”
It is believed based on feedback from the banks that Mortgage Advisers are contributing about a third of the whole New Zealand mortgage business. It shows high confidence of the customers in mortgage advisers.
Squirrel Mortgages: Honesty pays
On being ranked #1 in the top mortgage brokers’ list, John Bolton of Squirrel mortgages feels happy about the ranking. “I don’t think there’s any surprise about this. But it’s always good when they recognise your work,” he says. He says that there is no secret about their successful business.
Squirrel’s Indian team with Venugopal Chawdrapu and Nimish Parikh is expanded in Indian market and deal with the Indians in the country to make sure people get the best help they need while buying homes.
“When you’re buying your first home there are lots of things that can go wrong. And when things go wrong that means lots of stress and lots of cash. That’s where a good mortgage broker (like us) comes in handy. We’ve built our entire business around making sure the house buying process runs as smoothly as possible for our clients,” says John.
John considers experience, knowledge, strong relationships and understanding both sides of the situation as must have qualities to make a successful mortgage broker. He also worries about increasing interest rates that create more challenges for the brokers as well as the clients as it is becoming more difficult for people to buy a home.
“The hardest part of the process is when you really can’t help them but it’s important to be honest with them. And we at Squirrel Mortgages are pretty open and honest people,” he says.
PFS: Success from customer satisfaction
Ravi Mehta of PFS feels humbled on being recognised as second top mortgage broker in the entire country. “We are thankful to our clients. It became possible due to our clients’ support that we have achieved this appreciation,” he says.
The level of customer satisfaction provided by PFS can be seen from the fact that 70 percent of the PFS’s business has come from word-of-mouth referrals from existing customers. Whereas estate agents’ referrals have generated 15 percent of the total business.
On being asked about the qualities that makes a successful broker Ravi says that honesty, integrity and hard-work are the must have qualities for any broker to succeed in this industry.
Ravi Mehta feels that the mortgage industry is still facing some difficult issues due to some unethical people in the industry. Expressing his concern about the issue he says, “Some people do unethical work due to which whole industry suffers. They make false promises which can’t be fulfilled, which harms the image of mortgage brokers in general”. Ravi also seeks government support in implementing a same code of ethics for all registered financial advisor.
In 2003, from small beginnings, Professional Financial Solutions has gone from strength to strength, thanks to their client’s trust, goodwill and referrals. Ravi believes that a great deal of the company’s success is due to the current and ex-team members and is grateful for their contribution.
GFS: A case of high quality
On this occasion when Ajay Kumar was asked the reason of acquiring top position in the country, he gives the entire credit to its customers’ utmost support, team dedication and the latest technology which has been used to manage the business.
In terms of the number of loans settled, Ajay was the undisputed leader with 702 loans. The magazine further reported that Global Financial Services has written more than $2.5 billion in mortgages so far compared to about $1 billion worth of mortgages written by another company which is also ranked as a top broker. The next ranking broker had settled 60% less loans than Ajay Kumar – both in terms of value as well as number of loans.
The magazine also reported that, “(Ajay) has proprietary software that, he uses to great effect!” Under Ajay’s leadership, Global Financial Services had developed in-house a CRM system to provide an excellent service to its customers on ongoing basis.
“Do whatever is best for the customer, not for yourself. Try to go outside the square to add extra value or savings if you can – but within rules. Never give any assurance that is not possible to fulfil. Always take less time to say ‘No’ (if something is not possible) than, ‘Yes’ (if you are able to fulfil needs of the customer)... Update and upgrade your industry knowledge regularly,” says Ajay Kumar.
Global Financial Services Ltd is one of the financial advisers who are successfully serving the Indian community continuously for the last 15 years. Over a period of time, it has not only been successful in arranging $2.5 billion of loans but also life and personal risk insurance of over $2.5 billion.
GFS focuses on helping its customers finish their mortgage quickly rather than just arranging the mortgage. Its insurance services help customers protect their life and mortgages in unforeseen circumstances. GFS helps its customers at the time of insurance claim and as a result, its claim settlement ratio in respect of life insurance is 100%.
In the 15 years that they have been in establishment, no one has come near the kind of business they have been able to provide, especially to the Indian community. Businessman, doctors, restaurant operators, lawyers, professionals from all walks of life have benefitted from GFS work in the mortgage and insurance sector, with most banks, and thousands of clients Ajay Kumar and GFS enjoys a numero uno position in terms of customer satisfaction. “When a bank sees papers forwarded from GFS they are happy to take the case, as they are assured it is a good clear case,” he adds, “a case of high quality.”
Indians are the top mortgage brokers in the country, according to ‘The New Zealand Mortgage Mag’. Top three positons in the recent top broker list released by the well-known mortgage magazine are occupied by the Indian brokers. According to the magazine Squirrel mortgage, Global Finance Services...
Indians are the top mortgage brokers in the country, according to ‘The New Zealand Mortgage Mag’. Top three positons in the recent top broker list released by the well-known mortgage magazine are occupied by the Indian brokers. According to the magazine Squirrel mortgage, Global Finance Services Ltd. (GFS) and Professional Financial Solutions Ltd. (PFS) are the top three mortgage brokers in the country respectively.
The ranking has been decided on the basis of the number of loans settled and the amount loaned to the customers during the year financial year 2013 by any mortgage adviser. Where Squirrel’s team has generated settlement of $300m from 700 deals, GFS has given a tough competition with $290m settlement amount from 702 deals.
It is noticeable that where Squirrel has topped in multiple brokers’ list, GFS has been standing high with its top position in single brokers’ list. Difference between multiple and single broker is that a single broker originates all loans alone by itself, whereas in case of multiple broker, a team of brokers originates a total amount of loans.
Indians are doing great jobs in various sectors in New Zealand and this list has also reveal how Indians are growing in business and finance sector. This is more commendable for the brokers who have single-handedly achieved this status, i.e. Ajay Kumar from GFS and Ravi Mehta from PFS.
Considering single broker category Professional Financial Solutions limited (PFS) has grabbed second position in the list originating 276 loans and settlement amount of $112m. Ravi Mehta, the winner broker, of PFS says, “This year has seen a 25% increase in volume.”
It is believed based on feedback from the banks that Mortgage Advisers are contributing about a third of the whole New Zealand mortgage business. It shows high confidence of the customers in mortgage advisers.
Squirrel Mortgages: Honesty pays
On being ranked #1 in the top mortgage brokers’ list, John Bolton of Squirrel mortgages feels happy about the ranking. “I don’t think there’s any surprise about this. But it’s always good when they recognise your work,” he says. He says that there is no secret about their successful business.
Squirrel’s Indian team with Venugopal Chawdrapu and Nimish Parikh is expanded in Indian market and deal with the Indians in the country to make sure people get the best help they need while buying homes.
“When you’re buying your first home there are lots of things that can go wrong. And when things go wrong that means lots of stress and lots of cash. That’s where a good mortgage broker (like us) comes in handy. We’ve built our entire business around making sure the house buying process runs as smoothly as possible for our clients,” says John.
John considers experience, knowledge, strong relationships and understanding both sides of the situation as must have qualities to make a successful mortgage broker. He also worries about increasing interest rates that create more challenges for the brokers as well as the clients as it is becoming more difficult for people to buy a home.
“The hardest part of the process is when you really can’t help them but it’s important to be honest with them. And we at Squirrel Mortgages are pretty open and honest people,” he says.
PFS: Success from customer satisfaction
Ravi Mehta of PFS feels humbled on being recognised as second top mortgage broker in the entire country. “We are thankful to our clients. It became possible due to our clients’ support that we have achieved this appreciation,” he says.
The level of customer satisfaction provided by PFS can be seen from the fact that 70 percent of the PFS’s business has come from word-of-mouth referrals from existing customers. Whereas estate agents’ referrals have generated 15 percent of the total business.
On being asked about the qualities that makes a successful broker Ravi says that honesty, integrity and hard-work are the must have qualities for any broker to succeed in this industry.
Ravi Mehta feels that the mortgage industry is still facing some difficult issues due to some unethical people in the industry. Expressing his concern about the issue he says, “Some people do unethical work due to which whole industry suffers. They make false promises which can’t be fulfilled, which harms the image of mortgage brokers in general”. Ravi also seeks government support in implementing a same code of ethics for all registered financial advisor.
In 2003, from small beginnings, Professional Financial Solutions has gone from strength to strength, thanks to their client’s trust, goodwill and referrals. Ravi believes that a great deal of the company’s success is due to the current and ex-team members and is grateful for their contribution.
GFS: A case of high quality
On this occasion when Ajay Kumar was asked the reason of acquiring top position in the country, he gives the entire credit to its customers’ utmost support, team dedication and the latest technology which has been used to manage the business.
In terms of the number of loans settled, Ajay was the undisputed leader with 702 loans. The magazine further reported that Global Financial Services has written more than $2.5 billion in mortgages so far compared to about $1 billion worth of mortgages written by another company which is also ranked as a top broker. The next ranking broker had settled 60% less loans than Ajay Kumar – both in terms of value as well as number of loans.
The magazine also reported that, “(Ajay) has proprietary software that, he uses to great effect!” Under Ajay’s leadership, Global Financial Services had developed in-house a CRM system to provide an excellent service to its customers on ongoing basis.
“Do whatever is best for the customer, not for yourself. Try to go outside the square to add extra value or savings if you can – but within rules. Never give any assurance that is not possible to fulfil. Always take less time to say ‘No’ (if something is not possible) than, ‘Yes’ (if you are able to fulfil needs of the customer)... Update and upgrade your industry knowledge regularly,” says Ajay Kumar.
Global Financial Services Ltd is one of the financial advisers who are successfully serving the Indian community continuously for the last 15 years. Over a period of time, it has not only been successful in arranging $2.5 billion of loans but also life and personal risk insurance of over $2.5 billion.
GFS focuses on helping its customers finish their mortgage quickly rather than just arranging the mortgage. Its insurance services help customers protect their life and mortgages in unforeseen circumstances. GFS helps its customers at the time of insurance claim and as a result, its claim settlement ratio in respect of life insurance is 100%.
In the 15 years that they have been in establishment, no one has come near the kind of business they have been able to provide, especially to the Indian community. Businessman, doctors, restaurant operators, lawyers, professionals from all walks of life have benefitted from GFS work in the mortgage and insurance sector, with most banks, and thousands of clients Ajay Kumar and GFS enjoys a numero uno position in terms of customer satisfaction. “When a bank sees papers forwarded from GFS they are happy to take the case, as they are assured it is a good clear case,” he adds, “a case of high quality.”
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