Home buyers and investors are increasingly turning to mortgage brokers, the latest Mortgage and Finance Association of Australia (MFAA)/Bankwest Home Finance Index has revealed.
According to the Index released today, the proportion of home buyers and investors using a broker for their financing has reached its highest level since the Index began, sitting at 35.7 per cent – considerably higher than the 26.9 per cent recorded in November 2008.
More buyers are finding that brokers can secure them a better loan with the benefit of 'getting the best deal' through a mortgage broker soaring 18 per cent in the last six months to 67 per cent.
“We are seeing consumers understand that mortgage broker benefits extend beyond the traditional realms of leg work and wider loan range,” said Phil Naylor, CEO of the MFAA.
“Increasingly the ability to understand a client’s personal circumstances and finding interest rate deals are proving key reasons people are turning back to mortgage brokers.”
The survey polled more than 1,100 people across Australia and is the eighth index taken since 2004.