Broker’s Ranking in Home Loans for Buyers
More than 60% of residential mortgages were written by brokers between July and September this year.
The latest data by Comparator (business of CoreLogic) and the Mortgage and Finance Association of Australia (MFAA) has shown that the mortgage broker channel has recorded its highest ever market share result with brokers settling 60.1% of all residential home loans during the last quarter. The latest result is 0.4% higher than the previous market share record of 59.7% set in March 2019.
As well as breaking market share record, the value of new settlements recorded in the September 2020 quarter is also the largest by dollar value ever observed. The report found that the top 18 leading brokers and aggregators settled $57.47 billion of new home loans. This represents an increase 24.82% in the value of new lending when compared year-on-year to the previous year.
These results mirror the general trends observed by the Australian Bureau of Statistics, which found that owner-occupier housing loan commitments hit record-high levels in the last quarter, driven by low interest rates and government incentives (such as First Home Loan Deposit Scheme and Home Builder).
MFAA CEO Mike Felton said the result demonstrates the critical role that brokers play in supporting their customers and the economy, and the impact they have made at a time when they were needed the most.
“This phenomenal market share result reflects the tireless support and assistance brokers have provided their customers to help them navigate the challenges posed by the COVID-19 pandemic and the first recession Australia has experienced in 29 years,” Mr. Felton said.
“It is also evidence of the ever-increasing trust and confidence that consumers are placing in mortgage brokers as our industry faces the imminent introduction of a Best Interest Duty and related reforms. We are confident that these reforms will continue to differentiate our channel and that our industry can look forward to further increases in market share in the years ahead.
“While I am always proud of the hard work and professionalism of everyone in our industry, the way brokers have overcome their own challenges and vulnerabilities this year, maintained their focus on their customer’s needs, while achieving their highest market share result to date, has been nothing short of inspirational,” Mr. Felton said.
So if you’re thinking about buying a home, let the brokers with good ol’ fashioned service help you on your journey! Fill out the form below, and we will be in touch with you as soon as possible.
Why Choose Brisbane Home Loans
You're In Good Hands
Brisbane Home Loans is all about good old fashioned personal service without exception.
We Find The Right Deal For You
We take the time to listen to your needs and then search the market for the best products that satisfies your needs at the lowest possible cost to you.
We continue to work for you after the deal is finished, ensuring that we asess any new offers that become available which may improve your current deal.
One Stop Lending
We give our clients access to Personal Loans, Home Loans, Investment Loans and Commercial Loans. You always only deal with on person for all your lending services.
How We Work With Our Clients
We can meet clients in our office, in their home, their office or the local coffee shop. Our initial interview will helps us understand the clients needs in the short, medium and long term so that we can find the best possible lender for your loan.
The world of financing continues to be more and more complicated. Our Lenders have experience in finding the right product to meet the specific needs of each of our clients. During this phase, we identify two to three options that may be suitable.
Our Lending Specialists will present to you a number of options available outlining the differences, benefits and downfalls of each option presented. Our preferred option and reasons why, we consider this the best fit for you will be clearly explained.
Our Lending Specialists work with our clients to have all documentsation signed, submitted to the lending institution and processed through to approval.
We pride outselves on client service which is why our Lending Specialists establish a reasonable review timeframe where they touch base with our Clients to ensure everything is working as planned. During this review, the client is made aware of any new financing options in the market.
Brisbane Home Loans is not about one off loans. We truly care about our clients, which is why we stand by their side beyond the completion of the loan.
Being Our First Home It Was Great Having The Knowledge of Daniel & The team at Brisbane Home
We have been working with Daniel and the team at Brisbane Home Loans for the purchase of our first home, being first home buyers it has been great having the knowledge of Daniel & the team at Brisbane Home Loans to support us. We can’t thank them enough for their support and making themselves available to answer all of our questions. I’d highly recommend Brisbane Home Loans.
We Saved More Than 1% On Our Existing Home Loans
We didn’t realize how important it was to review our home load until we engaged with Daniel and Jordan at Brisbane Home Loans. They helped in submitting our application which resulted in a saving of over 1% in interest on our loans, plus a reduction in our on going bank fees. I would recommend this business and thank Daniel and Jordan for making the process so easy.
Sam and Nicky
It was Our First Home and We had No Idea. Thanks to The Team From Brisbane Home Loans
Daniel and the team at Brisbane Home Loans were super helpful and friendly to me as it was my first home loan and I had no idea! They answered all my questions and were very hardworking. Would definitely recommend to a friend.
They Made Buying Our First Home Easy and Fun. Thanks
The team at Brisbane Home loans have been super helpful and extremely professional to assist us with all our first home questions.
will be recommending them to everyone I know looking to buy!
Thanks for Helping me Turn my Dream into a Reality
Service was great, very informative and kept me up to date on all progress and all steps. Follow up after it was all done and dusted was also great. Took the stress out of it which was a great help for my busy life. I would totally recommend Dan and Jordan to anyone.
Thanks for helping me get my dream into a reality.
Car Loan Approved In Less Than 3 Hours – So Wrapped
I could not believe how quickly Jordan was able to organise my car loan. He was so helpfull and I am truly greatfull.