Profile
“No matter how many clients I have, I make sure to call each one personally every quarter. It’s a chance to not only update them on their portfolio, but also check on how they’re doing personally”
Kelvin Rampersad,
Carte Wealth Management
Michael Wu is building his mortgage broking business one conversation at a time, one client at a time.
A key part of his success is his outreach not only to clients but also to the community in general via proactively talking to people and through social media to educate his audience about making wise financial decisions, part of an approach he calls education-based lending.
“We empower you to make the right choice by providing you up-front educational investment.”
Perhaps it is the financial equivalent of the saying, “Give a person a fish and you feed them for a day but teach them how to fish and you feed them for a lifetime”.
His formula is clearly working, as the founder of 10X Home Lending has won a clutch of awards from leading industry publications and top lenders, not to mention being named the Mortgage and Financial Association of Australia’s Newcomer of the Year in 2022.
But Michael is most proud of the more than 90 five-star reviews he received on Google over the past two years, finding the content to be “true feedback” from his clients and a powerful motivator.
“It makes me feel that all my effort is worthy. Every time I get tired, frustrated, or exhausted, I think of my clients’ testimonials, and I feel very grateful,” he says.
When a prospective client comes to Michael for advice, his first task is to establish a trusting relationship.
“Responding quickly and communicating clearly with my customers are my top priority, because I want to use my actions to earn my customers’ trust.”
He recognises that trust is an important asset for both his own business and the broader industry.
“My strategy is to build a trusted brand for myself and my company, 10X Home Lending; everything I do, I ask myself, will it increase the trust between me and my clients? Will it improve my company’s reputation?”
A good relationship is an important vehicle to get a client to their long-term financial destination.
“I see myself as an educator, a confidante and a sounding board who works by my clients’ sides throughout their property journey, helping them to magnify their property success,” he says.
“I won’t simply work with my clients to finance the current deal; I will work with them every step of the way as their property portfolio grows, providing valuable advice and guidance along the way.”
Michael wants to see the introduction of a CPA-type qualification for mortgage broking to help instil even more trust across the industry.
Being invested in a client’s long-term success creates a positive feedback loop that makes him want to improve his service and provide even better advice.
“Every day, I am highly motivated to learn, to immerse myself in different lenders’ credit policies and niches… I need to become a real expert at what I do in order to help people to find the right lending solutions.”
Before founding 10X Home Lending, Michael worked at various major banks as a home loan specialist but could see that many people were not getting either personalised service or the best deal available.
“By contrast, 10X Home Lending offers a personalised service that works around their customer’s busy schedule, as well as working with many banks and lenders to ensure their clients have options,” he says.
Michael guides his clients through the minefield of lending options available from over 40 lending institutions, including the major banks, to find “terrific” solutions that a customer could never have found on their own.
He aims to help more than 200 people achieve their financial goals in 2023 and is readying for a rush of refixing work. Higher rates may come as a shock to some, but no case is hopeless for Michael.
“If I really can’t find the right solution now, I always provide them with an actionable plan with a specific timeframe, so that they can be ready for the right solution in the next 3 months, 6 months, or 12 months.”
407/9 Chesterville Rd, Cheltenham, VIC 3192
0421 390 977
michael.wu@10xhomelending.com.au
linkedin.com/in/michael-wu-10xhomelending
10xhomelending.com.au
Michael Wu
Mortgage Broker
10X Home Lending
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“I strongly believe in working smarter, not harder. I think it’s one of the keys to living a great life, and I want to share that with as many people as possible”
Kelvin Rampersad,
Carte Wealth Management
2015–2017
2017–2018
2018–2020
2020–present
2019
Present
Mobile Lender at ANZ
2015–
2017
Mobile Lending Manager at Suncorp Group
2017–
2018
Home Lending Specialist at CBA
2018–
2020
2021: Won the New Office of the Year and the New Comer of the Year awards in The Adviser Awards
2022: Won the New Office of the Year in The Adviser Awards; won the New Comer Award from the MFAA;
recognised as one of Australian Broker’s Fast Starters and Fast Brokerages
Founder of 10X Home Lending and I Am A Mortgage Broker since 2020
Finalist in the Best Customer Service (Office) and Best New Office categories in The Adviser Awards
2020–
present
Recognised as one of Mortgage
Professional Australia’s Rising Stars
Present
Suncorp Bank’s turnaround times are the lowest they have ever been. The lender becomes Australia’s first certified carbon neutral bank for both its operation and transaction services
Aug 2022
Milestones
Aug 2022
Milestones
Sept 2021
Feb 2022
Apr 2022
Jul 2022
Aug
2022
Suncorp Bank introduces Solar Home Bonus offer for customers who are choosing renewable energy for their homes
Sept 2021
Month-on-month market share growth commences
Feb 2022
Suncorp Bank wins the Canstar award for most outstanding value in investment loans
Apr 2022
Suncorp Bank wins Money Magazine’s Bank of the Year and Business Bank of the Year awards for the fifth year in a row
Jul 2022
Suncorp Bank’s turnaround times are the lowest they have ever been. The lender becomes Australia’s first certified carbon neutral bank for both its operation and transaction services
Aug 2022
Milestones