RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%

Leading Digital Marketing Experts</strong | 1300 235 433 | Aggregation Enquires Welcome | Book Appointment

Example Interest Rates: Home Loan Variable: 5.69% (5.89%*) • Home Loan Fixed: 5.39% (6.59%*) • Fixed: 5.39% (6.59%*) • Variable: 5.69% (5.89%*) • Investment IO: 5.69% (6.48%*) • Investment PI: 5.39% (6.59%*)

Blog

Beware of Mortgage Broker Scams

There's rarely a day that passes that I don't get phone calls from an East-Indian or other offshore call center purporting to represent a legitimate Australian business. As a provider of high-level marketing services to the mortgage industry and directly to brokers, we inherit the same responsibilities that are expected of financial providers. As such, we'll now be recording these scam conversations wherever possible. We won't provide accurate details to the caller - or any personal details for that matter - but we will keep them on the phone long enough to learn something about them.

Note: Astutue Financial & Nexus Money are in no way responsible for the phone calls as described in in this article. They are both legitimate businesses that are dealing with their name being used in a fraudulent manner.

While working away today I had the presence of mind to record one such conversation. Instead of providing a lecture to the caller on their wayward life choices and criminal activities, today I (partially) went along for the ride.

What happens with the second phone call is a little unknown (I suspect it's to obtain personal details prior to the first "meeting"... a meeting that'd never eventuate, of course). While I didn't have the time to follow the process to completion, there is a chance - however slight - that the calls are actually attached to a grossly unethical and local broker agency. There's a possibility they're also connected to a local group associated with identity theft.

Astute Financial and Nexus Money - both very reputable organisations - have security alerts published on their website. Neither has any connection to the unsolicited calls. The ACCC is yet to publish any specific information on their website .

The experience is one that might be used to reinforce the value and uniqueness of (one part of) our trust-based broker referrer program. The referring is completed via a broker website, and the transaction is immediately followed by an email from that person making the recommendation. This is followed up by another email from the mortgage broker before a phone call or other contact takes place.

If you're in the finance industry and looking for leading marketing guidance, call us on 1300 BELIEF (that's 1300 235 433).

■ ■ ■

Download our complimentary 650-page guide on marketing for mortgage brokers. We'll show you exactly how we generate billions in volume for our clients.

Timezone: 1 · [ CHANGE ]

Want a No Obligation Discussion?

RELATED READING

Collins Street looking east from Queens Street, Melbourne, 1883

An Easier Way for Licence Holders, Aggregators, and Franchises to Manage Website Compliance Statements

We’ve had an increasing number of businesses come to us that require a word-for-word privacy, terms, complaints (dispute resolution), and

What is the Purpose of the Website Streets Module?

The single most significant change we’ve introduced to our website framework in the last few years is the inclusion of

The Future of Mortgage Aggregation

During the Banking Royal Commission, I participated in an ANU Committee that investigated the viability and role of aggregation in

Like this article?

Martin Khoury

Martin is the Managing Director of BeliefMedia Pty Limited, and Australia's leading Finance Marketing Specialist. He is supported by a team of Australia's finest. Read more about Marty here.

General Enquires: 1300 235 433 • Support: (02) 8765 8887

The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice. [ Example Credit Guide Link ]