One of the industryâ€™s top loan writers says brokersâ€™ ownership of the market is likely to burgeon in the next 12 months, as more customers turn to the third-party channel.
Speaking to The Adviser, George Samios of MADD Home Loans said he predicts that brokersâ€™ market share is likely to reach approximately 63 per cent over the next 12 months.
â€œI think itâ€™s going to continue growing as more and more people like myself are advertising what we do and educating Australians that mortgage brokers are a good thing,â€ he said. â€œMore and more people will start to use brokers.â€
Mr Samios emphasised that to galvanise this increase, it is imperative that brokers continue to educate customers about what they do.
â€œOverseas they do it really well, for example in America and England. Weâ€™ve just got to emulate that and make sure we invest in the industry,â€ he said.
Indeed, Aussie general manager of people and culture Lynda Harris has emphasised to The Adviser that mortgage broking is â€œcontinuing to go from strength to strengthâ€ due to an increasingly complex mortgage environment.
â€œWith complexity comes an increasing demand for experts, which is growing the popularity of the profession. As experts in their field, brokers offer customers welcome guidance through what could be a confusing process,â€ Ms Harris explained.
The comments follow on from recent research by Property Investment Professionals of Australia, which revealed that mortgage brokers are â€œhighly valuedâ€, particularly by Australian property investors, with the majority securing their last loan through a broker and many planning to in the future.
PIPA chair Ben Kingsley echoed the sentiments of Aussieâ€™s Ms Harris in saying that brokers continue to play a â€œkey role as providers of finance to investorsâ€ in the current complex borrowing environment.