Borrowers continue to gravitate towards brokers

Borrowers are voting with their feet. Mortgage broker market share figures continued their steady rise in the March quarter 2019, as brokers settled a record 59.7 per cent of all residential home loans.*

As you can see from the graph below, the overall upwards trend is clear, with market share increasing every year when compared to the same quarter in previous years. The latest quarter showed an increase in market share of 8 per cent compared to this time last year, and an 11 per cent jump compared to the March quarter 2017.

Source: MFAA

These figures show a strong vote of confidence in the service provided by mortgage brokers in Australia, particularly in light of the Royal Commission, the tighter lending requirements, a declining property market in many regions, and the federal election when investors faced potential major property tax changes.

In fact, it is often during more uncertain times that borrowers turn to brokers, to access expert guidance and greater choice in their lending solutions.

Feel free to call me anytime to discuss your lending requirements – you’ll be in good company.

Source: *