Mortgage Choice Rebrands As Roost

One of NZ''s oldest established mortgage-broking franchises has re-branded with a new look and new proposition for customers

Mortgage Choice today revealed its new name - Roost - and announced plans to cut through the consumer confusion when choosing a mortgage broker and safeguard new home buyers from being misled.

After conducting in-depth research, Roost found that many New Zealanders appeared to have little understanding of what a mortgage broker was, what they offered or how they could help. In particular, it was only upon approaching a broker that many learned that mortgage brokers do not charge any fees and are able to offer a choice of products from a number of different providers.

''With a large percentage of the population having to re-fix their mortgages this year, it is extremely important that consumers know exactly what they are getting themselves into when entering a mortgage agreement,' said Miranda Caird, managing director of Roost.  'Mortgage brokers are responsible for writing 30% of all home loans in New Zealand and many competitors do not explain to customers the choice and flexibility available in the market place. This can result in home buyers signing fixed contracts that do not fit their needs or suit their requirements.'

Roost decided to rebrand after reviewing this customer research and analysing the crowded mortgage marketplace. With the emergence of specialist lenders and a change from inflexible lending criteria, borrowers need to shop around to find the right deal. 

'As a company Roost has made a huge investment in technology allowing customers to consider all their options and make an informed decision.

'We also encourage consumers to question their broker and raise the following questions:

1. How are you paid?  And are you being paid referral fees?
2. How many lenders will you be dealing with on my behalf?
3. How do you know you are getting the best deal? And how is this supported (systems etc)
4. How timely is that information?
5. Make sure you sign a disclosure document
6. Ask if they are paying commission to a third party ie if a real estate company referred you do they get a commission for that?'

This advertorial was originally published in Franchise New Zealand magazine