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The MFAA has launched a consumer advertising campaign to promote the benefits of using the association’s brokers.
As of today (10 May), the Mortgage and Finance Association of Australia’s (MFAA) national campaign will run across key digital platforms regularly used by home buyers, such as Facebook, Instagram, and other news outlets, aiming to highlight to home buyers the importance and perks of using an accredited MFAA broker.
The campaign will direct consumers to the “Find a broker” tool on the association’s consumer website — Mortgage and Finance Help — where consumers can search for an MFAA-accredited broker nearby.
MFAA chief executive Anja Pannek stated brokers should always “be the first port of call” for home buyers in regard to understanding their options for a home loan.
“This campaign is about showing how mortgage brokers support their clients every step of the way and keeping them front of mind for people looking for credit advice,” she said.
Furthermore, MFAA data recently revealed that mortgage brokers wrote 69.3 per cent of all mortgages in the December 2022 quarter, which the campaign aims to leverage off along with the confidence the best interests duty provides home buyers when working with their broker.
“The significant growth we’ve seen in mortgage broker market share has highlighted the trust Australian borrowers have in mortgage brokers,” Ms Pannek said.
“A key driver for this campaign is that we want to continue to showcase and elevate how important it is for a current, or future, borrower to see a mortgage broker, and see them first.”
Ms Pannek added that as many customers continue to roll off fixed rates onto higher variable rates following 11 interest rate hikes with the added cost-of-living crisis, borrowers will be looking for assistance to help them navigate their options.
“Mortgage brokers play a crucial role in helping Australians navigate the ever-changing and highly competitive mortgage market and this campaign is about continuing to promote mortgage brokers so Australians know what you do and the value you provide,” Ms Pannek said.
“And with owner-occupied homes with a mortgage being one-third of all homes across the country, mortgage brokers can positively impact the lives of a huge number of Australians.”
#DontKillCompetition
In 2019, a non-branded video campaign was launched by Western Australia-based brokerage The Local Loan Company that aimed to demonstrate the value of the broker channel during the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
The campaign backed the MFAA’s brokerbehindyou #DontKillCompetition campaign and offered up testimonials from referral partners and broker clients to outline why the broker channel is important.
[RELATED: Association heads react to RBA rate hike]
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