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ISCOVER
Staff Reporter
Mortgage brokers achieved 5.3 per cent growth in volumes of new home loans to $24.69 billion during the June quarter, rising from $23.44 billion in the March quarter.
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New research conducted by comparator found mortgage brokers have annualised loan volumes of close to $100 billion.
Mortgage and Finance Association of Australia chief executive officer Phil Naylor said the figures were not surprising as brokers have firmly established themselves and their services in the lending space.
“These figures show that the broker channel has established itself as a consistent channel in home loans, occupying around 40 per cent of the market. Although June Quarter market share (39 per cent) is a slight drop on the March Quarter (42 per cent), this reflects the volatility in the non-broker sector, which can vary considerably each quarter,” he said.
Mr Naylor said he expects the mortgage broking sector to continue its growth in volumes over the next year as more customers come to understand the value brokers can provide them in what is their largest investment.
“It is now clear to borrowers that MFAA members are established as a trusted source of information and loans for borrowers. Our members adhere to an industry code of practice setting high professional and ethical standards, which is also lifting the sector’s credibility with borrowers,” Mr Naylor said.
