At Sherlok, our Managed Service is more than just a tool—it's an extension of your team. We provide a tailored solution for mortgage brokers who seek a hassle-free approach to client reviews and repricing.
Typically, it's costs a broker around $2k per month, depending on if they're onshore or offshore. This doesn't include recruitment costs, time for training, or ongoing employment costs.
Sherlok's Managed Service offers the same value of loan admin at a fraction of the cost.
Other direct savings that are less tangible but provide a direct ROI include no recruitment or set up cost, no ongoing staff training, no critical person risk if they were to leave, no office or other overhead requirements, no time investment in PD, upskilling or training.
Sherlok Manages Service Inclusions
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Rate reviews every 12 months for all clients that are not fixed. Fixed rate clients will be reviewed within 90 days of expiry. |
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Monthly reporting of all clients that have had a rate review completed |
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Manual Data Collection included (open banking remains the preferred method with Manual Data Collection as a fallback if no consent is given) |
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Manage lender credentials (expiry dates, update new passwords, etc.) |
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Manage the entire reprice process end to end (submission, in progress, stuck, escalation, completion & confirmation of rate being applied) |
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Managing communication of outcomes to the client (email or can be aligned to broker preference) |
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Rate Negotiation: Brokers love our ability to call the lender's retention team to secure better rates, ensuring client satisfaction. |
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Equity Monitoring: Our proactive Equity Monitoring alerts you to clients who can leverage their equity, based on LVR and property value, sparking strategic conversations. |
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Orphan book management |
The cost depends on the size of your back book, but rest assured it comes at a fraction of what it costs to hire a team member or the opportunity cost if a broker is spending time doing reviews.