Broker market share reaches new high

research-and-ratings/cent/chief-executive/

22 November 2013
| By Staff |
image
image
expand image

Mortgage brokers and aggregators have taken nearly half of the home loan market and are on track to break through the $120 billion mark for new loans written by the end of the year.

Australia's top 17 brokers and aggregators set a new record for the industry with $32 billion worth of loans written over the September, according to comparator research commissioned by the Mortgage and Finance Association of Australia (MFAA).

The MFAA added that lenders outside of the top four banks are making strong inroads into home loans written by brokers.

Comparator found that local brokers' market share currently stands at 46.4 per cent for home loans written compared with 50 per cent for the UK, 27 per cent for Canada, less than 40 per cent in the US and 25 per cent in New Zealand.

"We expect that brokers and aggregator members of the MFAA will provide more than 50 per cent of all home loans written in Australia over the next two years, if this growth trend continues," chief executive Phil Naylor said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND