Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Report shows brokers valued by borrowers

Staff Reporter 1 minute read

Banks have increased their dominance in the mortgage market but borrowers still rely significantly on brokers to source the most appropriate home loan deal, the latest Genworth Financial Mortgage Trends Report revealed yesterday.

72 per cent of the report’s 2000 plus survey respondents held a mortgage with a bank. This was the highest proportion in the four years since the report was established.

Despite this, the report indicated that a significant number of borrowers preferred to source their loan through a broker – 39 per cent said they relied on brokers to save time and secure the best home loan deal.

Furthermore 92 per cent of those who used a broker were satisfied with their service; 60 per cent very satisfied.

“Despite some concerns that the Australian mortgage broker industry suffers from lack of regulation and uniformity, it seems the vast majority of borrowers who have used a broker are satisfied,” the report said.

Published: 23-07-08

Report shows brokers valued by borrowers
default
TheAdviser logo
default

 

more from the adviser
handshake Former RAMS CEO to head up BOQ retail bank

Westpac’s current chief digital and marketing officer and forme...

AFG office Aggregator reveals record-breaking lodgements

Australian Finance Group has revealed its brokers lodged more loa...

online education tools ta iSelect launches SME loans in Valiant partnership

Comparison website iSelect launched a new business loan offering ...

FROM THE WEB