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The association has announced its consumer advertising campaign has garnered the attention of home buyers.
The Mortgage and Finance Association of Australia (MFAA) launched its four-week campaign on 10 May aimed at highlighting to home buyers the importance and perks of using an accredited MFAA broker.
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The campaign ran across key digital platforms used by home buyers such as Facebook, Instagram, and other news outlets, which directed consumers to the “Find a broker” tool on the MFAA’s consumer website – Mortgage and Finance Help – where consumers can search for a nearby MFAA-accredited broker.
Since then, the MFAA has confirmed the campaign reached over 900,000 people across Australia, with 2.7 million impressions. This led to over 8,000 additional visits to the “Find a broker” tool, which was double the usual traffic to the site.
MFAA members were provided a toolkit with images and wording they could use to help promote their services and continue the campaign’s momentum.
MFAA chief executive Anja Pannek commented on the results of the campaign: “It’s clear from the campaign results that our message, which is fundamentally to talk to your mortgage broker, has resonated with consumers.
“Our members deliver an outstanding service which all Australian home buyers should know about. And, with the foundation of the Best Interests Duty, consumers can be confident that they are in safe hands when working with their broker.”
Ms Pannek further stated the importance of promoting mortgage and finance propositions to consumers, especially with the rise of interest rates and mounting cost-of-living pressures.
“It’s more important than ever that people have access to the type of guidance and support that a broker offers so they can make the right decision,” Ms Pannek said.
“Mortgage brokers should always be the first port of call for home buyers and people refinancing their home loan, and the aim of our campaign was to showcase the service mortgage brokers offer their clients and keep them top of mind for anyone looking for a home loan.”
Although the Reserve Bank of Australia (RBA) decided to hold the cash rate at 4.1 per cent for the second consecutive month in August, the current environment still poses challenges to borrowers coming off very low fixed rates and borrowers with higher variable home loans, Ms Pannek said.
“Mortgage brokers are helping borrowers understand their options, whether it be to negotiate a better rate with their incumbent lender, or to look for a more appropriate loan to refinance into,” Ms Pannek said.
“Now more than ever – if you have a home loan you need to be seeing your broker to understand your options – you would be crazy not to.”
[RELATED: Borrowers ‘would be crazy’ to not see a broker: MFAA]
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