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First home buyers are savvier than ever, according to brokers.
At a broker panel discussion in Sydney yesterday, FYI Group’s Ben White said first home buyers were well educated about the property market and comfortable with high levels of debt.
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“First home buyers are definitely savvier than they were 10 years ago,” Mr White said.
“These buyers are confident using the internet to find out everything they need to know about rates and mortgage products.”
Financial Decisions’ Mark Rogan agreed.
Mr Rogan told The Adviser that first home buyers used a mortgage broker for a lot more than the best home loan rate.
“They know what the best rate out there is. They come to us for advice,” he said.
“I don’t believe there is room in the market for transactional brokers. Advice is the way of the future.”
