Buying one's own home has long been the Australian dream. It is often the biggest financial decision an individual will make in their lifetime, and for that reason, borrowers find comfort in consulting an expert who can help them wade through the complex range of products. The Mortgage Brokers industry is relatively new, having been around for less than two decades. Mortgage brokers have filled a gap in the market that has been missing in the past, and are seen as providing comprehensive, convenient and unbiased advice to their clients. Because they represent a panel of lenders, they are able to offer their customers a range of products and tailor a mortgage to their specific needs.
Mortgage brokers in Australia generally act on behalf of lenders, aiding borrowers in sourcing and applying for mortgage finance (for both residential and investment real estate purposes), and in refinancing existing mortgages. In general, brokers do not charge mortgagees any fee for their services. Rather, mortgage brokers receive origination and trailing commissions on originated funds directly from lenders.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.