Why smaller is often better
Is bigger always better? Not necessarily…particularly when it comes to customer service.
Big lenders employ a huge number of people, and some do a great job, but often they can let us all down because the number of customers they deal with each day can be too much for the number of staff they have rostered on.
Loan applications and documents can get lost in the ‘system’, which can be very frustrating and is often why we are disappointed in the bigger lenders; when it comes down to it, we just feel like a number.
We need to remember that humans are involved. And just like you and I, they can make errors. We don’t like it, but sometimes it happens. In the end, it’s how we, or the organisation, responds; that’s the difference.
Case Study:
Take this recent example.
Two different HoLo clients were waiting on loan documents for their home loan; one was with a big lender, the other a small lender. In both instances, HoLo caught that the loan documents had errors.
HoLo had to chase the big bank to have the documents corrected. The bank didn’t provide any updates for the customer and, as a result, settlement had to be delayed.
The smaller bank chased HoLo for the corrected documents. It updated us regularly and the loan settled on time. It even sent people to pick up the documents!
The smaller lender apologised on several occasions to the client and us. The big lender? Let’s just say we’re still waiting patiently.
So what we’re saying is….it’s important to shop around.
You deserve personalised attention, responsiveness, flexibility and understanding when navigating the complexities of securing a home loan. Fortunately for you, HoLo works with a range of lenders who take pride in fostering strong relationships with their clients and provide a more tailored and attentive experience (just like HoLo does).
Read more on our best-of-the-best list, If not the Big 4, then who? Or, you can have a squiz at the full list of HoLo’s lenders.
If you’d like to know more, book an appointment or contact us.