Mortgage brokers are now arranging more home loans than ever before – and current market conditions help explain why.
According to data commissioned by the Mortgage & Finance Association of Australia, brokers originated a record 81.0% of home loans in the March quarter.
That’s up from 76.8% a year earlier and 55.3% in 2018.
Why broker market share keeps growing
Borrowers are dealing with a more complex environment than they were a few years ago.
In recent months we’ve seen:
- Multiple interest rate rises.
- Changing government housing initiatives.
- Proposed changes to property investment rules.
- Greater variation between lender policies.
As a result, many borrowers are seeking more support when comparing their options.
Finding the right loan can be tricky
Choosing a loan is no longer just about comparing interest rates.
Different lenders can have different policies, borrowing limits, features and eligibility requirements.
That’s one reason more Australians are choosing to work with brokers when making important financial decisions.
With lending policies, government schemes and market conditions constantly evolving, having access to a broad range of lenders can be more valuable than ever.
