UK broker Nermalee Bowe landed in Australia three years ago and has found her feet quickly, having already received awards from the AMAs, the MFAA and Bankwest.
“Do you know what I’m doing right now?” asks Nermalee Bowe during this interview for Australian Broker.
“I’m in the airport, on my way to Melbourne and what I’m doing tomorrow is I’m just catching up with some of my favourite customers that I’ve dealt with over the last couple of years that I’ve not had a chance to meet personally” adding she’ll take them out for their choice of coffee, beer or lunch.
This act in itself sums up broker Bowe’s attitude to broking and her dedication to her customers and perhaps why she has transitioned so well to broking in a different country - she has a candid, no-frills approach to the profession and brings everything back to its fundamentals.
“It’s all about relationship building,” she says. “Whether it’s with your customers or it’s with the bank.” Especially relationships with the lenders she adds, because when things go south, that’s when you need their help the most.
A specialist in residential loans, Bowe started her career in banking and finance in 1998 and moved from Brighton in the United Kingdom to North Sydney three years ago and has already gained industry recognition.
From UK to Australia
Bowe’s strong financial background stems from her introduction to the industry at John Charcol, one of the UK’s largest independent mortgage brokers. She also has extensive experience in life and health insurance but moved to Australia to seek out broking opportunities after the GFC. She has been with a young boutique brokerage called QuickSelect ever since.
“It’s difficult to get staff who not only have experience but also have the tenacity and drive to do it,” Bowe points out. “It’s a certain type of personality that does this job.” But QuickSelect clearly saw she was cut out for it, along with her strong background in lead generation.
“I really appreciate them and I get a chance to make a mark because it’s not a big company and there’s been a lot of support with ongoing training. They’re there to support me in terms of the fact that where I want to expand is more dealing with international customers and assisting them.”
Bowe points out that although things may have changed in the UK since she was a broker there in 2007, she has noticed a few differences in the industry between the two countries.
“If I’m honest, the paper work here is a lot more intensive – it is easier in England, much easier,” says Bowe, explaining that positive credit reporting in England eliminates the need to see statements to confirm late or missed payments, speeding up the overall process and providing a better overview of how a person manages their finances.
However, she points out that in Australia it is easier to buy investment property than in the UK, or was before the recent APRA investment crackdown. “In England, you can’t use your income, so if you want to buy an investment property, (the loan) has to service on the rental income alone. So basically you had to put down a massive amount of deposit in order to buy an investment property because the rental that you receive is never going to be enough to get the loan that you want to.”
She noticed that her Australian customers tend to lean towards the four major banks over other lenders versus borrowers in the UK and that the professionals in the industry are generally older, compared to a younger demographic in the UK. “(Australians) are very wary of smaller banks and second tier lenders. They’ve got more faith in the big four.”
Industry recognition
Bowe already has a number of esteemed accolades to put on the mantelpiece, including the Australian Mortgage Awards 2014 Finalist Young Gun of the Year, the MFAA Excellence Awards 2014 Finalist Achievement Award and the Bankwest Broker of the Year 2013 Finalist Rookie of the Year.
So how did she come to be a part of the broking world? “I was an admin person for a broking company and I hated my job and I wanted to make more money,” says Bowe. She found the opportunity when a job opening came up and discovered she had a natural tenacity for the role.
“It’s not a sales job for me,” says Bowe and will focus on carving a niche for herself going forward. “There’s a huge market for expats that live overseas who need to refinance their properties. So that’s something I’m going to work on personally.”
This article originally appeared in Australian Broker issue 12.13.
Related articles:
Joining forces with a real estate network
Gaining the edge through technology
Striking a perfect customer satisfaction score
“I’m in the airport, on my way to Melbourne and what I’m doing tomorrow is I’m just catching up with some of my favourite customers that I’ve dealt with over the last couple of years that I’ve not had a chance to meet personally” adding she’ll take them out for their choice of coffee, beer or lunch.
This act in itself sums up broker Bowe’s attitude to broking and her dedication to her customers and perhaps why she has transitioned so well to broking in a different country - she has a candid, no-frills approach to the profession and brings everything back to its fundamentals.
“It’s all about relationship building,” she says. “Whether it’s with your customers or it’s with the bank.” Especially relationships with the lenders she adds, because when things go south, that’s when you need their help the most.A specialist in residential loans, Bowe started her career in banking and finance in 1998 and moved from Brighton in the United Kingdom to North Sydney three years ago and has already gained industry recognition.
From UK to Australia
Bowe’s strong financial background stems from her introduction to the industry at John Charcol, one of the UK’s largest independent mortgage brokers. She also has extensive experience in life and health insurance but moved to Australia to seek out broking opportunities after the GFC. She has been with a young boutique brokerage called QuickSelect ever since.
“It’s difficult to get staff who not only have experience but also have the tenacity and drive to do it,” Bowe points out. “It’s a certain type of personality that does this job.” But QuickSelect clearly saw she was cut out for it, along with her strong background in lead generation.
“I really appreciate them and I get a chance to make a mark because it’s not a big company and there’s been a lot of support with ongoing training. They’re there to support me in terms of the fact that where I want to expand is more dealing with international customers and assisting them.”
Bowe points out that although things may have changed in the UK since she was a broker there in 2007, she has noticed a few differences in the industry between the two countries.
“If I’m honest, the paper work here is a lot more intensive – it is easier in England, much easier,” says Bowe, explaining that positive credit reporting in England eliminates the need to see statements to confirm late or missed payments, speeding up the overall process and providing a better overview of how a person manages their finances.
However, she points out that in Australia it is easier to buy investment property than in the UK, or was before the recent APRA investment crackdown. “In England, you can’t use your income, so if you want to buy an investment property, (the loan) has to service on the rental income alone. So basically you had to put down a massive amount of deposit in order to buy an investment property because the rental that you receive is never going to be enough to get the loan that you want to.”
She noticed that her Australian customers tend to lean towards the four major banks over other lenders versus borrowers in the UK and that the professionals in the industry are generally older, compared to a younger demographic in the UK. “(Australians) are very wary of smaller banks and second tier lenders. They’ve got more faith in the big four.”
Industry recognition
Bowe already has a number of esteemed accolades to put on the mantelpiece, including the Australian Mortgage Awards 2014 Finalist Young Gun of the Year, the MFAA Excellence Awards 2014 Finalist Achievement Award and the Bankwest Broker of the Year 2013 Finalist Rookie of the Year.
So how did she come to be a part of the broking world? “I was an admin person for a broking company and I hated my job and I wanted to make more money,” says Bowe. She found the opportunity when a job opening came up and discovered she had a natural tenacity for the role.
“It’s not a sales job for me,” says Bowe and will focus on carving a niche for herself going forward. “There’s a huge market for expats that live overseas who need to refinance their properties. So that’s something I’m going to work on personally.”
This article originally appeared in Australian Broker issue 12.13.
Related articles:
Joining forces with a real estate network
Gaining the edge through technology
Striking a perfect customer satisfaction score
