Well, it’s our first online review* from a mortgage industry professional – and it isn’t too flattering for us or you.
A lead generation platform where the product has to pay to be in the market. hilarious 😛
This mortgage broker thinks that borrowers he helped into debt, people who look up to mortgage brokers as their trusted advisers, people like YOU are “the product”.
Which makes sense, because as blue_beetle once wrote, “if you’re not paying for something, you’re not the customer; you’re the product being sold”
Of course it’s nothing new, it’s just that I find it really confronting to see the dehumanising contempt on display.
I guess that at least for some, after meeting people just once or twice, you’re then paid a life-long commission for selling them to a lender, it’s natural to think of those people as the product to be sold to the highest bidder, rather than people who rely on you for advice.
This is the part of my reply that talks to this:
There’s not doubt the mortgage industry treats people like product, it’s just confronting to see that it’s a real attitude.
And if you’re even slightly inclined, you can read the full post here.
On a final note, not all lenders and mortgage brokers are like this fellow. Some are genuinely interested in doing their best by you, they’re confident they have what you want. They’re not that hard to spot, they’re the ones that know exactly what to bid to win your mortgage contest.
P.S. For what it’s worth, flongle’s far more than a lead generation platform, just like you are far more than a product.
*Except if you count the now 60 or so brokers and lenders (bank and non-bank) in our Verified Bidder Network that support transparency, impartial advice and mortgage competition.