Buying a home is often the biggest financial decision 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 products available. The Mortgage Brokers industry is relatively new, having only been active since the early 1990s. Mortgage brokers filled a gap in the market and have come to be seen as providers of comprehensive, convenient and unbiased advice to clients. Because they represent a panel of lenders, they can offer customers a range of products and tailor mortgages to specific needs.
Mortgage brokers in Australia generally act on behalf of lenders, primarily aiding borrowers in sourcing and applying for mortgage finance (for both residential and investment real estate purposes), and in refinancing existing mortgages. Brokers do not usually charge mortgagees any fee for their services. They 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.