While there are a number of small time mortgage brokers in small towns, these individuals generally need a second or even a third job simply because the amount of new business is much lower than in the cities, and the value of the loans are generally a lot this which will therefore translate into the value of commissions mortgage brokers earns.
Life would be generally quite hard for these independent mortgage brokers in Dunedin if they relied entirely on the income from that one business, so many also double as an insurance agent and perhaps even as a real estate agent. This means that they must have skills and qualifications across all the areas, but generally they are also well knowing and well trusted in town and so most of the new traditional business will still come to them.
In most cases these mortgage brokers will be skilled in the general rules of financial and they will be able to apply this to their own personal situation, and so it is common if there are mortgage brokers for them to be living in nice houses with the nice car and the nice boat.
The problem for customers in these small towns is that these brokers may not have the specialist skills that their city counterparts will have, and they may not necessarily have access to the non bank lenders or fully understand all the tricks necessary to get clients the mortgages they want. Customers experiencing this problem will need to approach city brokers, but the big advantage in 2017 is that it is much easier to deal with a broker remotely over the internet than it was in the past. Mortgage brokers living and working in Invercargill do a face to face at least once in order to properly identify the client and to establish a good working relationship. However nowadays this can just as easily be carried out over a Skype video call.
What this means is that for customers in small towns they can access the large pool what competent mortgage brokers throughout New Zealand, and they can be confident that they will get a good result and the service will be good. There are in fact a number of mortgage brokers particularly in the property investing sector who have never actually met with their clients face to face.