Brokers continue to hold strong market share
Mortgage brokers in Australia continue to hold a significant share of the home loan market, according to the most recent study of the top 16 aggregators in the country.
Research firm comparator business benchmarking found that the broking channel now makes up around 45 per cent of the entire $24.1 billion home loan market, as at the March quarter.
According to the Mortgage and Finance Association of Australia (MFAA), brokers are on track to surpass the $100 billion mark of home loans written during the 2013 calendar year.
“Mortgage brokers continue to lift their presence as a highly effective distribution channel for both large and small lenders, well supported by borrowers,” MFAA chief executive Phil Naylor said.
When compared to countries such as Canada (27 per cent), the US (less than 40 per cent) and New Zealand (25 per cent), the MFAA said brokers in Australia continue to build momentum as a vital distribution channel.
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