More Australians are using mortgage brokers than ever before – highlighting the growing value borrowers place on comparing lenders and loan options.
Mortgage brokers facilitated a record 81.6% of new residential home loans during the June quarter, according to Cotality data commissioned by the Mortgage & Finance Association of Australia.
That’s up from 77.6% a year earlier and 53.9% eight years ago.
Why are more borrowers using brokers?
For consumers, the appeal often comes down to choice and convenience – as well as the simple reason that home lending has become increasingly complex.
Different lenders can have different:
Those differences can matter whether you’re buying, investing or refinancing – particularly when interest rates are higher and borrowing capacity is tighter.
A broker can help you compare suitable options from a broad panel of lenders, understand the differences between them and navigate the application process.
Of course, using a broker doesn’t automatically mean there will be a better loan available. But with so many lenders taking different approaches, it can be useful to know what your options are before making a decision.
Buying, investing or refinancing? Get in touch and We can help you understand which home loan options may suit your circumstances.
