Arranging your largest ever financial transaction is a huge undertaking – mortgage brokers help to navigate the complexity and assist you in finding a mortgage that is right for you.
This article somes from Mortgage & Finance Association of Australia. (MFAA)
Over 70% of all Australians seeking to arrange finance for a home mortgage now choose a broker, and this market share is growing every year.
Arranging your largest ever financial transaction is a huge undertaking – mortgage brokers help to navigate the complexity and assist you in finding a mortgage that is right for you.
Your broker can give you access to a huge range of lenders, which brings greater competition to the market and ensures choice and convenience in selecting a home loan.
Mortgage brokers have an average 13.8 years industry experience and are required to act in their customers’ best interests at all times, which gives customers peace of mind.
Contribution to the Australian economy
The broker industry contributes significant value to the Australian economy consisting of approximately 17,000 businesses and generating more than 25,000 jobs.
Brokers provide superior value to consumers: choice, convenience, and access to a range of lenders. Brokers are critical to providing rural and regional customers with access to credit and a range of other financial services.
Due to the competition driven by the mortgage broking industry, value for consumers is increased over time, while prices remain as low as possible for homeowners.
Brokers are subject to an unrivalled higher Best Interests Duty, which means consumers can be assured their broker is acting in their best interests.
