Tired of sacrificing your weekends for work? Steve Tikellis did something about it. He traded the demanding world of car sales for the more balanced life of a mortgage broker. But here's the kicker: his journey reveals some surprising challenges and opportunities within the mortgage industry itself.
This is the latest installment of "Broker in Focus," a series dedicated to showcasing the diverse backgrounds and experiences of mortgage brokers. We aim to provide a platform for these professionals to share their stories, insights, and expertise, offering valuable perspectives on the ever-evolving landscape of home lending.
MPA recently spoke with Steve Tikellis, a seasoned mortgage and finance broker at Excellence Home Loans. Steve's story is a testament to the power of career reinvention. He courageously left behind a 21-year career in the automotive industry, seeking a role that would allow him to prioritize his family. He reflects on navigating the complexities of the mortgage market, building a strong brand, and cultivating a reputation for resilience and client-focused service.
Let's dive into Steve's journey and uncover the lessons he's learned along the way.
Meet Steve Tikellis:
- Full Name: Steve Tikellis
- Job Title: Mortgage and Finance Broker
- Company: Excellence Home Loans (https://excellencehomeloans.com.au/)
- Years in the Industry: Approaching 12 years (as of January 2026)
- Location: Castle Hill, NSW
From Car Sales to Home Loans: A Leap of Faith
Steve's transition into mortgage broking wasn't a random decision. After two decades in the automotive sector, spanning roles from salesperson to finance manager, the relentless weekend work became unsustainable with young children at home. "I was no longer motivated to sacrifice weekends for work," Steve explains. A pivotal moment arrived when a friend, already a successful broker, invited Steve to join his team. Recognizing Steve's finance background and personal experience with property investment, his friend believed he possessed the ideal skillset for a mortgage broker.
This transition occurred in January 2014, and while it proved successful initially, the daily commute from Castle Hill to Liverpool began to take its toll. Balancing work with family commitments became increasingly challenging. Consequently, in August 2015, Steve made the bold decision to venture out on his own, establishing a franchise under the Choice Home Loans banner through Choice Aggregation.
But here's where it gets controversial... In 2017, realestate.com.au acquired the CHL franchise model, forcing Steve to rebrand. This led to the birth of Excellence Home Loans, his independent brand operating under Choice Aggregation, now known as LMG.
The Silver Lining: Increased Competition
When asked about the most positive development in the broking industry, Steve points to the heightened competition among lenders. "The most positive development in broking is the competitive nature of all the lenders, which reduces the cost of our home loan products and improves the service of these products to our clients." This increased competition has narrowed the gap between the Reserve Bank of Australia's (RBA) official cash rate and the rates offered to borrowers, ultimately benefiting consumers.
Navigating the Challenges: Affordability and Documentation
However, Steve also acknowledges the significant challenges facing the industry. One of the most pressing concerns is the escalating cost of real estate in Australia. "I feel one of the biggest challenges is the increasing cost of real estate in Australia, which is having a greater impact on loan affordability and servicing." To address this, Steve suggests that the Australian Prudential Regulation Authority (APRA) consider reducing the current 3% serviceability buffer back to 2% or 2.5%. This buffer is used by lenders to assess a borrower's ability to repay a loan if interest rates rise. Lowering the buffer could potentially improve loan affordability for some borrowers. What do you think? Should APRA reduce the serviceability buffer?
Another challenge Steve highlights is the frequent need to rework applications due to missing documentation or communication issues between platforms like ApplyOnline/LoanApp and the lender's systems. He commends lenders who allow brokers to upload supporting documents directly through their portal, reducing the risk of documents getting lost.
And this is the part most people miss... Steve emphasizes the importance of accurately assessing clients' living expenses. Discrepancies between declared expenses and bank statement evidence can significantly impact loan serviceability. He advocates for in-depth discussions with clients to differentiate between discretionary and non-discretionary spending, ensuring expenses are as accurate as possible. He also mentions he rarely submits applications with living expenses below the Household Expenditure Measure Standards (HEMS).
A Trial by Fire: Resilience and Expertise
Steve recounts a particularly challenging experience early in his career involving two couples seeking to develop a property by demolishing the existing structure and building a duplex with two granny flats, all as owner-builders. "This entire scenario and experience were extremely difficult, but possible." This complex project taught him invaluable lessons in resilience, the importance of asking thorough questions, and the need to develop a deep understanding of lender policies and niche products. Ultimately, he successfully secured financing for the project, marking one of his largest loans at the time.
Words of Wisdom for Aspiring Brokers
For those considering a career in mortgage broking or just starting out, Steve offers this advice: "Make sure you have an experienced broker as your mentor, ask lots of questions, and focus on learning lender policies and niches—not just their rates." Mentorship, continuous learning, and a focus on understanding the nuances of lending policies are crucial for success in this field.
"Broker in Focus" regularly features mortgage brokers from across Australia. Recent profiles include Rory Sercombe of Own Money, Brodie Brown of BH Brown Mortgage Brokers, Jason Brown of Home Loans Australia, Chris Bowers of Complete Home Loans, Jayden Pinto of Aussie Home Loans Geraldton, Larissa Barton of Mortgage Choice Coolum Beach and Noosaville, Kathy Dundas of No Fuss Home Loans, John Tindall of Accumulus Home Loans, Luke Serra of Loan & Finance Brokers, and David Meadows of Meadows Advisory.
Are you a mortgage broker interested in sharing your story? Contact the author to be featured in an upcoming edition of "Broker in Focus."
What are your thoughts on Steve's journey? Have you faced similar challenges in the mortgage industry? Share your experiences and insights in the comments below!
