Melbourne's Best Independent Mortgage Broker - available 7 days a week

Mortgage Broker market share reaches record level

Mortgage Broker market share hits all-time high, indicating a significant increase in their dominance

Share This Post

The latest research

Mortgage broker market share has had a record level of 71.8% of all new residential home loans for the December quarter ended 2023 in Australia according to recent research released by the MFAA (Mortgage Finance Association of Australia) . This is a significant milestone for mortgage brokers and the Australian home loan market because the previous high of 71.7% occurred in September 2022.

The recent interest-rate rises, and economic uncertainty was expected to dampen demand for home loan through mortgage brokers, but these figures show mortgage brokers play a vital part in the Australian home loan market.

The What if We Finance experience

What if We Finance a mortgage broker in Melbourne reflected on the MFAA market share results and share some insights.

CEO, Spiro Kolokithas believes mortgage brokers play an important role in the Australian market, because they are accessible, approachable and trusted. What If We Finance is available seven days a week and works all hours with customers to achieve their goals.

We have access to a number of lenders over 50 and this important because during times of economic uncertainty or higher interest-rate, it is important to use a mortgage broker because they understand different credit policies, rules, and how are you can maximise your borrowing capacity and minimise your costs.

For example, a recent borrower was able to buy $100,000 more by using a mortgage broker and buy their dream home because What If We Finance understood the intricacies of casual income and facilitated a deal with the right lender. If the borrower had gone directly to the wrong bank they have not have been able to buy their dream home.

Home loan lending is getting more complex by the day with many rules and exceptions and policies that need to be satisfied. Experience mortgage brokers like What If We Finance have been operating since 2008 are well equipped to deal with this. We have been through the good times and the bad times and understand what it takes to get loans approved, Spiro Kolokithas said.

Mortgage Brokers are Highly Trusted

Mortgage brokers assisting a couple

The MFAA insights are reinforced by analysis conducted jointly by the Agile Market Intelligence in association and the Finance Brokers Association of Australasia (FBAA) – the Consumer Access to Mortgages 2023 report – finding that 86 per cent of mortgage broker clients trust their brokers, with 44 per cent saying they had “complete trust”. 

In contrast, 73 per cent of consumers that dealt directly with lenders said they trusted their representative, with only 27 per cent indicating “complete trust”.

Contact us today

What if We Finance is available seven days a week, with access to over 50lendbers, over 2000 home loan products and with interest-rate starting from 5.84% per annum we can help you find an unbeatable today.

We are an award winning mortgage broker situated in Melbourne and would be delighted to help you. Contact us today to find out more.

Get updates and learn from the best

Subscribe To Our Newsletter