The value of mortgage brokers
Brokers offer a customer value proposition that entails choice, expertise and convenience. This manifests itself in product and service transparency and often a good customer experience during the home buying journey. This is particularly valued by the customer that place emphasis on face to face interactions that take the hassle out of the process and those who are less confident with the process.
Brokers are more popular than ever
Mortgage brokers are now responsible for writing over half of Australia’s home loans and are valued for their choice, expertise and convenience.
Brokers were also found to be proficient at matching the right product to customer’s needs. In fact, broker initiated home loans go to smaller lenders, demonstrating that brokers offer consumers real choice and have access to a wider range of mortgage products than banks or other financial organisations.
Investors in particular are convinced of the value of using a mortgage broker.
Lenders are also complimentary of the role of mortgage brokers. Those interviewed for the MFAA study said lenders were moving to a partnership model with brokers, whereby both work together to provide customers with the most appropriate proposition. Great news for customers!
The benefit of a MFAA Member
We're a member of the Mortgage & Finance Association of Australia (MFAA), the peak professional body representing over 12,000 mortgage and finance professionals and organisations around Australia. To join this body we had to meet a strict set of criteria and to maintain our accreditation annually we are required to keep abreast of industry changes and trends and keep our skills and knowledge up-to-date.
As a member, we adhere to the industry Code of Practice which requires high standards, fair business practices, ethical behaviour and compliance with the letter and the spirit of relevant laws and regulations - all in the interest of you, the borrower.