While record numbers of mortgagees are refinancing, it’s still a small proportion of overall lenders at a time when significant loan repayment savings can be made, according to MFAA State Excellence Awards nominee, Helen Avis of Specialist Mortgage.
Specialist Mortgage has been shortlisted for two honours in the upcoming MFAA State Excellence Awards.
The organisation is in the running for Best Finance Broker Business Award, while Finance Director Helen Avis, is in contention for the Best Customer Service Award.
Ms Avis, who was the recent recipient of The Advisor’s Better Business Awards for Customer Service Excellence, said the pause in interest rate rises presented borrowers with the breathing space to look for a better deal and to refinance their mortgage.
Ms Avis said that in 2022, Specialist Mortgage saw a 68 per cent leap in the dollar value of loans settled, with a 61 per cent increase in the volume of loans.
With more than 600,000 expatriates returning to Australia since the pandemic, Specialist Mortgage has increased the component of its clientele that comprises repatriated Australians now permanently living in Australia who required finance to purchase homes or are seeking better loan options.
The MFAA State Excellence Awards celebrate brokers, lenders, aggregators and industry professionals at the top of their game who have demonstrated exceptional customer service, professionalism, ethics and growth.
There are 24 awards that are judged based on excellence and professionalism across all areas of the business.
Ms Avis said a testament to their commitment to service was the fact 78 per cent of the company’s business was generated from existing clients and client referrals.
“We are proficient in dealing with those that don’t fit the traditional lending options.
“I communicate with lenders on a policy level and I raise my concerns and those of my clients to bring about meaningful change in lending practices.
“By gaining a stronger insight into how to correctly structure finance packages, we can significantly benefit your overall position.”
Refinancing at record levels for a reason
There are currently record levels of refinancing but this still only represents around 1 per cent of total outstanding housing loans in Australia each month.
Close to $20 billion in property loans were refinanced to new lenders in February – based on Australian Bureau of Statistics lending data – up 23 per cent on the same time last year.
A $500,000 loan taken out at the average rate of 2.98 percent in April 2022 is now paying a 6.48 per cent rate and repayments have gone up by $1,051.
Ms Avis said a renegotiated loan could save mortgagees hundreds of dollars each month.
Specialist Mortgage assists clients with all aspects of Australian property finance. With offices in Australia, Singapore, Hong Kong and the Middle East they specialise in securing residential mortgages for Australian Expatriates and foreign investors, that are often faced with limited affordable options from Australian and overseas lending providers.
Helen Avis, Director, Specialist Mortgage, has added another accolade to her impressive list of achievements, this time securing the Western Australian customer service award for an individual at The Adviser Better Business Awards.
On a night when the who’s who of Western Australia’s broking industry were rewarded for their achievements at The Adviser Better Business Awards, Finance Director of Specialist Mortgage, Helen Avis, took home the coveted Best Customer Service (Individual) Award.
In presenting the prestigious award, judges praised Ms Avis for “her outstanding submission that demonstrated her innovation, communication, and notable growth rates.”
The Specialist Mortgage team was also named as a finalist in the Best Customer Service (Office) Finalist category, while Ms Avis was a finalist in a second category, Best Residential Broker.
Speaking after her win, Ms Avis said 20 years of experience and an innate understanding of her clients’ needs, financial situations and aspirations was at the core of her success.
Ms Avis, who recently won the national MFAA Residential Finance Broker Award, said she went above and beyond in ensuring her advice delivered the best interest rates and took into account the many variables that go into securing the best financial package for her clients.
She added that 2023 shaped as another busy year, as she helped clients navigate the financial landscape as they confronted a forced shift from low interest fixed rate loans to higher variable rates, or the so-called mortgage cliff.
“A lot of clients are in this situation and we send them reminders that the new loan arrangement is coming and diligently work with them to plan accordingly.”
“It’s another hectic year ahead and we really look forward to helping clients, and that extends to their whole family, to get the best possible deal on their mortgage by benefiting from our experience, knowledge, contacts and commitment,” Ms Avis said.
Established in 1991, Specialist Mortgage provides all types of lending options to Australian property investors.
On the night, 97 finalists who were in the running for 19 awards, including brokers and brokerages, business development managers (BDM), and loan administrators as well as thought leaders and mentors.
The awards, run in partnership by The Advisor and NAB, are in their tenth year.
Winner announcements were featured in The Adviser.
In what has been a rewarding and productive 2022 for Helen Avis, the Specialist Mortgage Director has added a finalist shortlisting for the Women in Finance Awards 2022 to her list of accolades.
Helen Avis, Director, Specialist Mortgage, has been shortlisted as a finalist for Mortgage Broker of the Year in the Women in Finance Awards 2022.
The highly anticipated Women in Finance Awards 2022 shines a light on every highly skilled and talented woman propelling the finance industry forward.
Considered the pinnacle of innovation and excellence, the awards program was created to highlight the impressive achievements of top leading women in the sector, recognising them for their remarkable contribution and expertise.
The finalist list, which was announced on Friday, 7 October, features 249 high-achieving professionals across 29 submission-based categories.
The August winner of the prestigious MFAA Residential Finance Broker Award, Helen Avis, said the award was particularly rewarding in such a turbulent time for the property market.
Maja Garaca Djurdjevic, editor of Wealth at Momentum Media, commented: “This year we have been absolutely inundated by submissions and we’re just so excited to see so many of you take time out of your busy schedules to nominate your friends, colleagues, and peers for this coveted accolade.
“As usual, we would like to congratulate all the finalists of the sixth annual Women in Finance Awards and extend our congratulations to everyone who lodged a submission.
“We thank you for the support you’ve shown women in this space — support that is key for growing women’s presence in our financial services sector.”
Expat specialists
Specialist Mortgage is part of the SMATS Group, which provides property and tax services.
Ms Avis said she aims to respond to client enquiries within 24 hours with the aim of booking an initial consult within the first week of an enquiry.
“Often Australian expatriate clients residing overseas seek information on the property market and tax implications,” she said.
“Through SMATS Group, we offer a unique comprehensive service where clients can obtain a free initial consult with a qualified buyer’s agent and tax accountant to assist them in making the best-informed decisions.
“Six out of ten Australian expats had returned home since the onset of the pandemic, with many looking at purchasing a home before their return.
“In an already fiercely competitive property market this has proved to be difficult for expats, not only from a logistical position but also from a financial position, as many expats don’t fit traditional lending options.
Having experienced the trials and tribulations as an expat herself, Ms Avis has established a trusted position within the expatriate community.
She understands securing attractive Australian finance options for expats is not only difficult but often a complicated process while residing overseas.
Helen Avis, winner of the prestigious MFAA Residential Finance Broker Award, said interest rate concerns were beginning to weigh on the minds of clients but business was still strong as buyers remained highly active in the real estate market.
The Mortgage and Finance Association of Australia (MFAA) Awards have named Helen Avis of Specialist Mortgage (part of the SMATS Group of Companies) winner of the national Residential Finance Broker Award.
The winners of the MFAA National Excellence Awards 2022 were recently announced at a glamorous event at The Star in Sydney.
The MFAA National Excellence Awards acknowledge brokers, lenders, aggregators and industry professionals who have demonstrated exceptional customer service, professionalism, ethics, growth and innovation.
Ms Avis said the award was the culmination of more than two decades building a business with her husband, Steve Douglas, Executive Chairman of SMATS Group.
With offices in Australia, Singapore, Hong Kong and the Middle East, Ms Avis and the Specialist Mortgage team specialise in securing mortgages and consolidating loans for Australian expatriates and foreign investors who are often faced with limited affordable options from Australian and overseas lending providers.
“I am honoured to be recognised by my industry peers and named as the winner of this award. I love what I do. Helping people secure their home or investment property gives me so much satisfaction.”
Ms Avis, who won the Western Australian state award, settled a staggering $187 million in loans for 2021, a 67 per cent increase on the previous year with no signs of slowing down.
2022 is looking to be even more successful, off the back of a personal record set in July 2021 settling more than $25 million across 29 deals.
Going ballistic
Speaking to API Magazine, Ms Avis said this year had been challenging because of the interest rate hike cycle being undertaken by the Reserve Bank of Australia, but the market had heated up again.
“We noticed after the 0.5 per cent rate rise in June, that enquiries appeared to slow down, however I believe, buyers were just being cautious and wanted to see the impact on property prices.
“Since then, our enquiry rate has gone ballistic again, with home buyers and investors locally and overseas wanting to buy.
“Many buyers believe property prices will decrease but our clients report that homes located in highly desirable suburbs are still attracting a lot of interest and competition at auction.
“It will be interesting to see how the rapid interest rises impact buyer activity, days on market and property prices.
“I am also expecting to see more clients looking to purchase as a result of interstate and overseas migration.”
Concerns about interest rates were on clients’ minds and they have voted with their feet when choosing their loan type.
“Up until October last year the majority of our clients secured fixed rate loans, but when fixed rates started going up clients were opting to split loans, now almost all of my clients are selecting variable rate loans.”
Specialist Mortgage Director, Helen Avis, has been named winner of the WA Residential Finance Broker Award at the annual Mortgage and Finance Association of Australia State Excellence Awards.
Specialist Mortgage Director, Helen Avis, has been named winner of the WA Residential Finance Broker Award at the annual Mortgage and Finance Association of Australia (MFAA) State Excellence Awards.
The awards highlight brokers, broker businesses and staff who have demonstrated exceptional customer service, professionalism, ethics, growth and innovation.
Judged by an independent panel of industry specialists, business professionals and experts, the MFAA Excellence Awards are the most rigorous in the Australian mortgage and finance industry.
Specialist Mortgage had also been named a finalist, in the WA Residential Finance Broker Award category.
Ms Avis settled a staggering $187 million in loans for 2021, a 67 per cent increase on the previous year with no signs of slowing down.
2022 is looking to be even more successful, off the back of a personal record set in July 2021 settling more than $25 million across 29 deals.
“I am honoured to have been recognised by my industry peers and to have been selected from all the entrants across WA and named as the winner of this award,” Ms Avis said.
With offices in Australia, Singapore, Hong Kong and the Middle East, Ms Avis and the Specialist Mortgage team specialise in securing mortgages and consolidating loans for Australian expatriates and foreign investors who are often faced with limited affordable options from Australian and overseas lending providers.
Ms Avis said 80 per cent of new business generated is from existing client referrals.
“With more than 600,000 returning expats since the pandemic, we have also helped repatriating Aussies who require finance to purchase a home upon their return to Australia,” Ms Avis said.
Specialist Mortgage communicates with clients personally via phone or video conferencing apps to ensure they are happy with the service they are receiving through their lender, answer any questions they may have, and chat about their future requirements.
“This has resulted in a 90 per cent loan conversion rate and 80 per cent of new business generated from existing client referrals,” Ms Avis said.
Market changing quickly
The property market in which Ms Avis was rewarded has undergone a huge transformation in just the six months that have passed since the judging period closed.
Interest rates are taking off as major capital city markets decline, which is a far cry from the cheap money and buyer urgency that gripped the market in 2021.
Ms Avis said in the last three months there had been a noticeable easing of activity, starting with the lead-up to the election and then after the May and June rate rises.
“There are still buyers but they’re not willing to pay inflated prices, so that bubble has burst but value will come back,” she said.
“In reality some people were just overpaying to secure their property.
“Last weekend I read in the press about an auction in Sydney where the property was being marketed at $2.6m, had a reserve of $2.8m and sold at $3.2m, but in general auction rates have slowed.”
She said she expected at some point in the next 18 months the mortgage rate would be back up to 5 per cent.
“In the 20 years of being in this industry a good rate had a 4 in front of it, so we will return to these levels with inflation rising.
“Most of my clients took advantage of the low rates and fixed their mortgages, so when those end we will need to make sure they are getting the best negotiated rate, as that will be quite a jump in payments.
“It will be interesting to see how the market evolves.”
Nationals await
The MFAA stated that it acknowledged Helen Avis for demonstrating professionalism, integrity, ethical conduct, growth and innovation.
“To be recognised as a finalist speaks volumes of their exceptional practice and professionalism in the mortgage and finance industry,” the MFAA added.
Over the last 20 years the awards have played a key role in lifting the standards of service and professionalism across Australia’s mortgage and finance industry.
As a state winner, Ms Avis is now in the running to win the prestigious national title at the MFAA National Excellence Awards in July.
The Australian Mortgage Awards 2022 (AMAs) will feature 25 categories plus the two main awards – Westpac Australian Broker of the Year and Liberty Australian Brokerage of the Year.
The AMAs are sponsored by Westpac (event partner), Adelaide Bank, Bankwest, BOQ Broker, Commonwealth Bank, Dye & Durham, Equity-One, MFAA, La Trobe Financial, Liberty, FBAA, Mortgage Choice, MSA National, NextGen, OnDeck, Prime Capital and Resimac.
Specialist Mortgage finance director Helen Avis has been recognised in this year’s MPA Top 100 list, as one of the Top Mortgage brokers writing the highest value of loans in FY21; further adding to a long history of achievements and awards in the Australian finance industry.
Ms Avis settled a staggering $153 million in loans for FY21, a 67% increase on the previous year with no signs of slowing down. Signing 249 loans to rank in the Top 25, considerable momentum started to gather steam around September 2019. 2022 is looking to be even more successful, off the back of a personal record set in July 2021 settling more than $25 million across 29 deals.
“Over the past 12 months the market has become hugely competitive and experienced a meteoric rise in housing values. Unprecedented low-interest rates have not only attracted homebuyers but also resulted in property investors returning to the market along with high levels of refinancing.”
“A lot more buyers were acting and buying property than they were previously, whether as owner-occupiers, future owner-occupiers or as investors,”
“The sheer volume of people, the speed of the market and price points have been phenomenal. Economists are predicting a slowdown in the property market however I’m not seeing any signs of it yet.” Ms Avis added.
More than 600,000 Australians have returned home from international cities since the onset of COVID-19. The appeal of Australia being a safe haven has seen a demand for family homes gain momentum particularly in Queensland, Melbourne and Sydney.
Having experienced the trials and tribulations as an expat herself, Ms Avis has established a trusted position within the expatriate community and understands securing attractive Australian finance options for expats is not only difficult but often a complicated process whilst residing overseas.
‘The last 12 months was not without challenges, with banks taking extended times to process applications throughout the pandemic,’
“For expats we have limited lenders with attractive terms and often longer processing times. The market is fiercely competitive, in some circumstances, buyers have had to make a choice between securing the lowest rate or the quickest loan processing time.”
Setting herself apart from other brokers as a specialist in expatriate finance with her extensive experience and knowledge of expat financial package terms and conditions, Ms Avis’ ability to successfully communicate to banks to get finance approved quickly makes her a leader in the field.
“I am very optimistic for the next few years,”
“We are likely to see more expats returning, more interstate moving, migrants finally moving to Australia, and international students coming back will help the rental market in the cities of Melbourne and Sydney.
“One positive taken away is the importance of being compassionate to clients, especially those who have faced job uncertainty and financial distress or have experienced delays in getting loan documents signed and notarised through lockdown restrictions.”
Having a career spanning more than three decades, Ms Avis has built a reputation on her tenacity to respond promptly and professionally and working tirelessly to secure the best financial packages for her clients.
The lessons learnt through the pandemic are ones Ms Avis says will carry the Specialist Mortgage team in good stead for the future, understanding there is no substitute for hard work and looking forward to continued growth in 2022.
Specialist Mortgage director Helen Avis settled more than $25 million in loans in July, as returning expats and those looking to move to lifestyle locations underpinned a record quarterly performance for mortgage brokers across the country.
Ms Avis completed 49 settlements collectively worth $25.03 million over the month, with that total eclipsing the next highest Australia-based Specialist Finance Group broker by more than $5 million.
Specialist Mortgage which operates in Sydney, Melbourne and Perth as well as international cities such as Singapore, Hong Kong, New York, Dubai and London aggregates to SFG.
The July total adds to a long list of achievements for Ms Avis, including winning St Georges Bank’s Top Flame Broker award in 2013 and 2014, and being named SFG’s International Broker of the year in 2016, 2017, 2018 and 2019.
Ms Avis said a big proportion of the July loans went to returning expats seeking a home in Australia to ride out the pandemic.
More than 500,000 Australians have returned from international cities since the onset of COVID-19, with that influx a big contributing factor to the meteoric rise in housing values over the past 12 months.
“The market is hugely competitive at the moment, and with the appeal of Australia being a safe haven from COVID-19, I’ve seen high demand for family homes being sought in Queensland and New South Wales,” Ms Avis said.
“Clients are looking at options for where to stay when they make it out of quarantine, and somewhere comfortable that they’ll be in for the future.”
One of those expats was Stewart Duncan, who heralded Ms Avis’ expertise in the complicated process of signing and notarising crucial documents for an offshore client.
“It was all a bit complex for a layman, but Helen navigated everything on my behalf and explained the pros and cons of different scenarios,” Mr Duncan said.
“I felt very comfortable being able to reach out to Helen at any time and get a quick response, especially not being in Australia with time differences and trying to get something in a timely manner.
“Doing business transactions is completely different to finding a house for the family and the support from having someone on the ground was immeasurable.”
Mr Duncan said he was extremely satisfied with the rates and the terms of the loan provided by Ms Avis.
“The process requires somebody familiar with the expatriate financial packages and terms and conditions to be able to explain them to the banks,” he said.
Another happy client was Peter, who recently returned to Australia from Singapore and purchased a family home on Sydney’s Lower North Shore and refinanced an investment property.
“We found dealing with Helen and her team a very positive experience,” Peter said.
“From quickly ascertaining our requirements and forwarding a number of attractive options from several lenders, we were able to work with Helen quickly from pre-approval to settlement.”
The strong monthly performance came in an environment of elevated demand for housing finance, with the value of new settlements in the second quarter of the year up 47.25 per cent compared to the same time in 2020.
Data released by the Mortgage & Finance Association of Australia showed there was more than $77.75 billion in new lending facilitated by brokers in the three months to the end of June, up $24.95 billion on the previous quarter.
The second quarter performance represented the biggest observed result for a June quarter and was $13.65 billion more than the previous record three month period since the MFAA commissioned CoreLogic to provide the data in 2013.
SMATS Group executive chairman Steve Douglas, who heads up the main holding entity of Specialist Mortgage, said 2021 had been one of the busiest he’d been involved in through his 25-plus years in migration and financial services.
“We are seeing more clients refinancing with these unprecedented low interest rates, and migrants wanting to return back to Australia are re-entering the property market to secure a property for their return,” Mr Douglas said.
“Given the relative safety from COVID-19 in Australia is it any wonder those Aussies living abroad are trying to get back?
“We’re not surprised, it’s certainly been keeping us busy.”
