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Home loan pricing - how does it impact customer retention and broker revenue?
23rd April 2024
Home loan pricing - how does it impact customer retention and broker revenue?
Fintech Sherlok has released a new report on home loan pricing and its impact on customer retention and broker revenue, revealing that effective repricing action can markedly diminish client turnover.
The report found that client churn reduced by 32% when brokers proactively repriced clients to lower interest rates with the same lender.
Peter White, CEO of the Finance Brokers Association of Australia (FBAA), also praised the report’s timing and insights.
“This report comes at a critical time for the mortgage broking industry,” he said. “The data-driven strategies outlined provide invaluable guidance for brokers seeking to enhance client retention and drive sustainable growth.”