Industry Analysis & Industry Trends
Buying a home is often one of the most important financial decisions that an individual will make in their lifetime, and usually requires a substantial loan. Therefore, many borrowers consult experts that can help them navigate the complex range of loan products available. The Mortgage Brokers industry is relatively new, having only existed since the early 1990s. Mortgage brokers filled a void in the market and have come to be seen as providers of comprehensive, convenient and unbiased advice to clients. As they represent a panel of lenders, they can offer customers a range of products and tailor mortgages to specific needs... purchase to read more
Industry Report - Starting a New Business Chapter
The Mortgage Brokers industry has low barriers to entry, which contributes to its highly competitive nature. The main barriers to entry include obtaining regulatory approval and gaining market share. The latter is usually achieved through affiliation with a larger broker group which already hold an existing licence. Sole proprietors generally grow their loan books by establishing a referral relationship with local businesses, such as financial planners and real estate agents. The rising degree of competition within the industry has led to higher barriers to entry over the past five years.
The rapid growth of the Mortgage Brokers industry has resulted in the implementation of minimum education requirements for people who choose to enter this profession... purchase to read more