Citi Branded Wealth supports brokers and their customers as the property environment evolves
The rapidly evolving property market means prospective buyers have a raft of new concerns to grapple with during the home-buying process.
Some issues facing buyers include a fear of overpaying, whether to look for a fixed or variable rate, and their borrowing capacity, according to Sunny Cheng, senior business development manager at Citi Branded Wealth. Cheng recently chatted with MPA about how Citi Branded Wealth is helping brokers and their clients come to grips with the changing property environment.
Cheng said that even in an uncertain market, the best time to buy a home is simply when you are ready. While many prospective buyers fear overpaying, many don’t want to put their home-purchase plans on hold. In these situations, a broker can help a prospective home buyer make a smart purchase.
Cheng said that Citi Branded Wealth, under National Australia Bank, has made considerable efforts to help brokers and their clients navigate the challenges of the changing market.
“We have adapted to the changing environment by introducing a simple Virtual ID verification process for our broker business partners to ID their clients via virtual means without the need to meet face to face,” he said.
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City Branded Wealth has also doubled the size of its credit team to provide faster credit decisions.
“In addition, we continue to offer credit policy niches such as our ‘85% No LMI’ policy to help first-home buyers enter the property market with a smaller deposit,” Cheng said.
Citi Branded Wealth has also upgraded its internet banking and mobile app functionality.
“We are continually implementing positive changes to simplify the home loan journey for our brokers and clients,” Cheng said.
Cheng said that Citi Branded Wealth also made it a priority to keep their broker partners informed.
“We continue to offer exclusive intel to our broker business partners to keep them informed on current property market conditions, and we strive to offer real value and ensure we are competitive in the market,” he said.
