Value of commercial loans written by brokers
According to the Mortgage & Finance Association of Australia’s Industry Intelligence Service (IIS) release, the total book value of commercial lending for mortgage brokers continued to grow, reaching a record high of $18.12 billion in the six months from April to September 2023. This figure represented an 11.5 per cent increase in the number of brokers writing commercial loans in the six months from April to September 2022.
Number of brokers writing commercial loans
Interestingly, while the value of commercial loans being written by mortgage brokers has increased, the MFAA’s IIS report showed that the number of mortgage brokers who are also writing commercial loans decreased between April to September 2023. Around 5,654 mortgage brokers were also writing commercial in the six months from April to September 2023.
This figure represents the second successive period of decline and a 7.5 per cent decrease in the number of brokers also writing commercial loans in the six months from April to September 2022 (6,118 brokers).
