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ISCOVER
Staff Reporter
The popularity of mortgage brokers has grown significantly in the last three years, according to the latest MFAA/Bankwest Home Finance Index.
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The Index found the overall proportion of consumers understanding the benefits of using a broker is now at its highest level, sitting at 35.7 per cent – considerably higher than the 26.9 per cent recorded in November 2008.
Additionally, awareness of the services mortgage brokers can provide is at 78.9 per cent, and broker awareness is at 95 per cent generally.
"With increasing activity in the investor community, mortgage brokers have a tremendous opportunity to articulate a compelling value proposition based on convenience and choice,” MFAA chief executive Phil Naylor said.
According to the Index, the benefit of 'getting the best deal' through a mortgage broker soared 18 per cent in the last six months to 67 per cent.
“We are seeing consumers understand that mortgage broker benefits extend beyond the traditional realms of leg work and wider loan range,” Mr Naylor said.
“Increasingly the ability to understand a client’s personal circumstances and finding interest rate deals are proving key reasons people are turning back to mortgage brokers.”
