iscover
In the UK, the Sex Discrimination Act 1975 made this kind of gender-based financial discrimination unlawful, opening the door for women to access credit, open bank accounts, and take out home loans in their own name.
In Australia, progress began around the same time: the Commonwealth Bank changed its policy in 1974 to allow women to apply for loans without a male guarantor – a first in the sector. Other banks soon followed.
But it wasn’t until the Sex Discrimination Act 1984 (Cth) that full legal protection was introduced, making it unlawful for financial institutions to discriminate based on sex or marital status.
For Aussie senior mobile broker Vicki Fraser, these milestones are more than historical. With five years as a broker and over 15 years in finance and as a single parent herself, she brings a personal understanding of how financial systems can empower – or exclude – people. She’s passionate about supporting clients who might otherwise fall through the cracks, especially women navigating major life transitions or starting over.
Broker Daily spoke with Fraser about how far the industry has come, what challenges remain, and why representation and education still matter.
You recently shared that 50 years ago, women could be refused a mortgage simply for being unmarried. What made you post about this?
I think it’s one of those things that shocks people – it wasn’t that long ago. The late ’70s feels like another era, but some of my clients lived through it. I posted because it’s important to acknowledge how far we’ve come, but also because discrimination doesn’t just vanish when laws change.
Working in finance and now as a broker, I’ve seen how much confidence and education play into financial empowerment. When you understand how lending works, you can make decisions from a position of strength – and that’s life-changing for a lot of women.
How have things changed since women first gained the right to apply for loans in their own name?
The legal landscape has completely transformed – starting with the Commonwealth Bank’s decision in 1974 and then the broader legal reforms that came through in the 1980s. Lenders can’t discriminate based on gender or marital status now, and that’s huge. But practically, some challenges have just shifted shape.
Women still tend to earn less, take career breaks, and shoulder more family responsibilities. That all affects serviceability and borrowing capacity. So while the system’s fairer, it’s not always flexible. What’s improved is awareness – we talk about these things now. And as brokers, we can advocate for clients who don’t fit the textbook profile. These are the scenarios I enjoy most these days, and they give me a lot of purpose and satisfaction.
You mentioned wanting to help clients who fall through the cracks. What does that look like day-to-day?
It’s often about understanding the story behind the numbers. A client might have had time out of the workforce, gone through separation, or be managing a single income – like me. You have to look beyond the spreadsheet and see the person.
Education is a big part of it too. Many people – especially women – just haven’t been shown how finance works. When you take the time to explain and guide, you can literally change someone’s trajectory. That’s what drives me.
What role do you think gender plays in the client–broker relationship today?
It still matters. I’ve found that female clients, especially those coming out of vulnerable or emotional situations – like divorce or family change – often feel more comfortable talking to another woman. It’s not about men doing anything wrong – it’s about trust and empathy.
When someone’s rebuilding or stepping into financial independence for the first time, it helps to have someone who “gets it”. That shared understanding can make the whole process less intimidating.
You’ve spoken about wanting to see more women in the finance and broking industry. Why is that important to you?
Representation changes the conversation. When women see other women in finance – in leadership, broking, banking – it normalises those roles. It also helps clients see themselves reflected in the industry.
I’ve been in finance for 15 years, and I still think we need to do more to attract and support women. This is a career where empathy, communication, and problem solving are as valuable as technical knowledge – and women bring a lot of that.
What do you think the next 10 years should look like for women and lending?
I’d love to see more focus on financial education – especially for younger women and single-parent households. Empowerment starts with knowledge.
And I’d like to see the industry continue to evolve – more flexibility in lending policy, more women in decision-making roles, and more open conversations about money. We’ve come a long way since needing a husband’s signature, but equality now is about confidence and opportunity, not just access.
