More and more home loan customers are using mortgage brokers, with brokers setting another market share record.
Mortgage brokers originated 74.1% of all new home loans in the March quarter, while lenders originated 25.9%, according to research by Comparator.
Broker market share has skyrocketed recently, rising from 69.6% in March 2023 to 52.1% in March 2020.
“Mortgage brokers offer personalised guidance and support throughout the entire home loan process, helping Australians navigate an increasingly complex lending landscape,” said Anja Pannek, CEO of the Mortgage & Finance Association of Australia, who commissioned the research.
“The value mortgage brokers offer their clients cannot be underestimated. They have brought choice and competition to the market, and act in the best interests of their clients.”
