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New legal broker service to fill gap in the market
A former director has unveiled a new service which aims to greater educate lawyers on their finances.
Grace Ormsby
Like doctors and accountants, lawyers have a low-risk profile among lenders. Unlike doctors, who have their own broker services and accountants already working in the financial space, a lot of the time lawyers aren’t aware they carry this unique risk.
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It is on this premise that Andrew Johnson launched Legal Home Loans just two months ago as a solo venture to offer a premium level brokerage service to legal professionals.
Previously a director and finance specialist with Distinctive Finance after beginning his banking career with BOQ Specialist, Mr Johnson realised there was a gap in the market for lawyer-specific finance.
Launching Legal Home Loans on 4 May, Mr Johnson said he has “developed a service for lawyers that really is above and beyond what you would expect from a finance broker in terms of professionalism and understanding the unique needs of lawyers at different stages in their lives and careers”.
Pointing out the financial savings and product discounts legal professionals are eligible for, he said their brokers “have a higher level of understanding” and “deliver a level of professionalism and knowledge that lawyers are accustomed to dealing in their own business”.
Mr Johnson added “the high expectation and attention to detail of lawyers means we must match that, along with the respect of time and efficiency for our clients”.
He touts Legal Home Loans’ independence from vendors and transparency as beneficial from a client’s perspective, providing outcomes that align with the client’s intention.
“[The company’s mission is to] help all admitted lawyers with their finance including finance for vehicles, homes, chambers, tech and investments.
“If helping means that we are at the client’s house explaining the process again to partners after work hours, then we can do that. If they need us to come to their offices at the last minute, we can be there too. Being based in the heart of the CBD, we can service our clients face to face in most cases, which we love doing,” Mr Johnson said.
Legal Home Loans aims to offer “specific, in-depth knowledge of the products available to lawyers,” according to broker and asset finance specialist, Cullen Haynes.
He touts their premium-level service and specialisation as an “approach that delivers more to clients’, noting this is due to the high expectation and attention to detail of lawyers, as well as the depth of knowledge that comes with conducting an industry-specific service.
