Will a supermarket move into mortgages in 2015?

"What I have seen emerging over 2014 is an increasing number of non-traditional brands well advanced in their thinking around distribution of mortgages to their customer base," he said.

"These brands understand the strength of customer loyalty, and the role a mortgage offer can play in further enhancing that loyalty and advocacy."

Mr Heavey, who previously held executive roles at ANZ, St George Bank and Suncorp Bank, said the companies he's advised are looking for new ways to sell to their customers.

He told The Adviser that brokers should expect "increasing consumer choice of mortgage provider" in 2015.

Coles prompted renewed speculation about a possible move into mortgages when it announced in July that it planned to form a joint venture with GE Capital.

Leading industry figures warned earlier in 2014 that other strong brands like Woolworths, Google, Yahoo and Apple could use their financial power, data expertise and brand recognition to "quickly morph into a financial services business".

Mr Heavey said brokers should be prepared for the arrival of a non-traditional lender.

"Brokers need to be cognisant of consumers' increasing choice of digital forms of engagement and consider investing in alternative forms of customer acquisition," he said.

"Some of the fundamentals remain unchanged however, such as the importance of robust, efficient lead management and a continued focus on improving operational efficiency."

Mr Heavey said the future nevertheless continued to remain bright for brokers.

"We can't lose sight of the fact we operate in a market of $1.4 trillion, and even with a system growth of 3-4 per cent, this still represents $25 billion-plus per month in transaction volume," he said.

"The mix of third-party distribution continues to trend upwards, proving customers continue to highly value the advice, choice and convenience only brokers can provide."

[LinkedIn: Coles or Google moving into mortgages – threat or opportunity?]