Industry Analysis & Industry Trends
Buying a home is often one of the most important financial decisions an individual will make in their lifetime, and it usually requires a substantial loan. Therefore, many borrowers consult experts to 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 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 - Industry Products Chapter
While loan products are fairly homogeneous and the range has not changed greatly over the past five years, some brokers have expanded into personal loans for other big-ticket items, such as cars, weddings and holidays. Other brokers have become refinancing specialists. Mortgage refinance brokers have benefited from the removal of mortgage exit fees and plummeting interest rates, which have encouraged many owner-occupiers and investors with existing mortgages to consider switching to a more appropriate mortgage.
Over the past five years, owner-occupier loans are expected to have declined as a share of broker income, while demand for investment loan products has grown rapidly... purchase to read more