Career - Mortgage Broker (Business Owner)


Bachelor Mechanical Engineering and Bachelor Arts (Japanese) (Neither of these are related to my job!)

Job description:
I provide my clients with a suitable loan for them to purchase a home or an investment property.

Describe a typical day:
  • Speaking to new clients to determine their options.
  • Preparing an overview that will allow clients to grasp the key figures quickly and easily.
  • Meeting with clients to discuss their financial situation and options.
  • Expanding the clients understanding - be it in the basics of purchasing a property or investing tips to discuss with their accountant.
  • Ensuring the client feels they feel they have enough knowledge to confidently make a decision about their finances.
  • Completing applications and preparing an overview to ensure a quick and smooth approval of the mortgage.
  • Following the application through to full approval, so that the client has the loan to buy the property.
  • Checking on the bank and correcting bank errors.

Did you study maths in years 11 or 12? Why?
Yes. I enjoyed it and I was good at it.

Did you study maths as part of your Uni/TAFE course? What kind of maths?
Yes. I couldn't say what type it was though - engineering maths bored me - it wasn't practical on a day to day level.

What aspects of your work require maths?
Determining what funds are available when purchasing a property, how much someone can borrow given a certain income and deposit etc. I use MS Excel all the time.

Why do you like your job?
I get to mix sales with maths. Sales is always challenging because it's about people skills and emotions. Maths is all about logic. Mixing the two keeps me on my toes. I get the pleasure of making something that is very complex to a lot of people suddenly seem clear and simple.

It's a great feeling to give someone a sense of confidence about their home and investment loans especially given it's generally their largest financial commitment. Plus, each file is like a puzzle - every client's situation is different.

Sometimes the puzzle is simple and I've seen it before so the challenge is to quickly solve it and transfer the knowledge smoothly. On other occasions there are many layers to the problem and a change in one layer affects others. So it's maths and product knowledge mixed together. These challenges keep the job interesting.

What aspects of your job (if any!) do you dislike?
The stress that comes with the job.

Do you have any advice for someone considering this career?
Mortgage broking is a great career for those that like working with people and like the challenge of making complex concepts easy to communicate.

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