Making Finance Simple with Loan Market
When it comes to navigating the property market, clarity is everything and that’s exactly what Lauren Hall from Loan Market delivers. Based at our Bundall location, Lauren Hall is a Mortgage Broker & Managing Director of Loan Market, Australia’s largest and family-owned brokerage group. She helps everyone from first-home buyers to seasoned investors find the right finance to turn their plans into reality. Known for her commitment to financial education and her ability to cut through the jargon, Lauren supports her clients with the knowledge and confidence to make smart property decisions. Whether she’s teaching high school students about money or guiding a 19-year old into their first home, Lauren’s approach is all about making finance simple, strategic and stress-free.
Lauren Hall - Managing Director
Tell us about Loan Market and the services you provide?
Loan Market is the largest Brokerage Group in Australia, they are also a family owned business. As Brokers we provide choice to over 74% of Aussies looking for finance. That could range from buying their first home, to building their property portfolio, purchasing a commercial premise to run their business out of, and even buying cars and equipment. If you want to make it yours, we can help you find the right finance for you.
What sets your approach apart from other brokers, and why is that something your clients should know?
Clarity around the numbers is really important. Our clients can make informed decisions when they clearly understand the upfront and ongoing costs involved in the transaction. We spend a lot of work completing credit research ensuring that when we provide a recommendation our clients are able to purchase the property with confidence in their financial position. This also means that their contract terms are much more favourable than other buyers, giving them a strong advantage when negotiating their offer.
Financial Education is a fundamental pillar of our business and that ranges from myself teaching financial literacy classes at Benowa State High School to being able to explain complex lending concepts in a simple logical fashion to our clients - we are passionate about making finance simple and breaking down the jargon.
You helped a client buy their first home at 19. What advice do you have for young buyers trying to break into the market?
Buying your first home is a massive milestone and it takes hard work and commitment.
There are some amazing incentives available to first home buyers, so the first thing is that you need to understand what you have access to. Then you need to understand your expenses, how much can you afford to put towards the property? Mortgage payments, rates, insurance, maintenance etc.
We are also supporting quite a few of our first home buyers with Family Guarantees, so if your parents own a property, this can be a great way to help you get into the market.
In today’s market, do you think the ‘Great Australian Dream’ of home ownership still holds the same meaning it once did? How has that dream evolved for the next generation of buyers?
It has absolutely changed, the next generation value experiences more so in some ways over the stability that property offers, they aren’t starting to look at settling down until much later on. Plus, with the cost of living and the cost of getting into the market, it can feel daunting and overwhelming. At the end of the day we all need a roof over our head, that is a basic life necessity and the Australian Dream really signifies family, stability, a legacy that we can pass on to our children - it means a future.
For some who are fortunate to be able to live with their parents, this might mean reinvesting - buying a small property as an investment. It reduces their expenses with the rental income contributing to the mortgage, gets them on the property ladder while also leveraging being able to live at home and still enjoy those experiences that they value.
The next generation also has a lot of information at their fingertips, they are curious and they want to understand how they can be smart with money and make it work harder - I do love this approach.
What are the biggest financial challenge Australians face today when trying to purchase a property?
Absolutely the affordability. The amount we are needing to borrow is higher than it has even been and the traditional concept of borrowing up to 30% of your household income has gone out the window. The cost of living is also high and so there is a lot of pressure when trying to line up an affordable loan amount with a property that meets our requirements ( i.e: location, size etc ). In saying that, there has also never been more Government support for First Home Buyers and there are also some great lender policies which are helping those trying to break into the market.
What’s the most rewarding part of guiding someone through the journey of buying their first home or investment property?
Property is in our DNA, we literally call it ‘The Great Australian Dream’. It is fundamental to our future. Being able to guide someone through the finance side of things, taking the stress of handling all the paperwork off them, breaking down the jargon, educating them and empowering them to make the right financial decision for them is very rewarding.
What does being a woman in leadership mean to you?
Lauren & the team! Shae (left) and Phillipa (right)
My favourite quote is ‘Leadership is when people feel braver just because you are in the room’. I love seeing women in particular lean into our natural strength of warmth and compassion and leading from the back, in a way that encourages collaboration and an environment where everyone is comfortable to share.
Were there any female mentors or role models who influenced your path in business, and what advice would you share with other women building their own careers?
Yes, there are a few Brokers in the Industry who I absolutely look up to. They have some of the largest businesses in the country and would need to make hard business decisions everyday and yet, as mentioned above, they have maintained their warmth, compassion and approachableness. These women have also built business around their lifestyles and families, they don't buy into the traditional business models, they are agile and adaptable. If you are a woman in the industry, make your business model work for you.
How has giving back to the local community such as Benowa High School helped shape your business and values?
I spend a large part of my day educating customers around financial literacy, and so it made sense to partner with BSHS and pass on that knowledge to our young adults before they go out and learn from experience, which sometimes can be a hard lesson to learn.
Customers want to work with businesses who are community focused, who care about the next generation and who genuinely give back. The business flow-on effect is that I then get to work with great people, customers who value relationships, who also care about the next generation, and who want to support local businesses.
What’s next for your business - are there any new services or projects you’re excited about?
We want to continue to be focused on the local community, and offering free finance workshops is something we are now rolling out regularly. In fact our next one, focused on First Home Buyers, is on the 3rd of September. We will also continue to provide free financial literacy classes to the Senior Students at BSHS.
A lot of our customers are also small local businesses and we are working with them to help them fund new premises and equipment to take their business to the next stage - that is really exciting as we have seen their businesses grow and change over the years.
What attracted you to work from Riva Offices and why?
Riva is a beautiful space for us as a team to work in, and also for our customers who love to come in for their meetings. It is centrally located and has all the bells and whistles. As a business owner, being able to focus on my team and customers is important and having the RIVA team take care of the general tasks associated with a premise is a huge win for me - it has allowed me to grow my business quickly while providing a professional space for my team and customers. Plus there is the advantage of collaborating with other business owners in the building which has been an added bonus.
Want to learn more? Visit the Loan Market Lauren Hall website and see how she can help you with your next move!
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