The Mortgage Broking Industry Group (MBIG), of which the MFAA is a member, has launched The Value of Mortgage Broking, a report by Deloitte Access Economics.

This report demonstrates the value that our industry brings to consumers, lenders and the Australian economy, by driving competition and delivering greater choice and valuable services to the Australians who need them most.

The Value of Mortgage Broking report was commissioned by MBIG to help all Australians - from financial regulators to everyday home buyers - better understand the role and value that mortgage brokers bring to the Australian market. Given the ongoing scrutiny on the industry during 2018, it is critical that we have a credible and independent report that clearly outlines the importance of the broker channel.

Click here to view the report.

The key findings of the report comprise:

90 per cent

 

More than 90 per cent of mortgage broker customers are happy with their mortgage broker’s performance

13.8 years

 

Mortgage brokers, on average, have 13.8 years of industry experience helping Australians finance their homes

3 in 10

 

Three in 10 mortgages arranged by mortgage brokers are for customers in regional and rural areas, improving access to home lending for regional Australians

Reduced Lenders' Net Interest Margins

 

The mortgage broker channel has contributed to a fall in lenders’ net interest margins of more than three percentage points over the past 30 years, making home financing cheaper for all Australians

27,100 Full-time Jobs

 

The mortgage broker industry supports more than 27,100 full-time equivalent jobs

$2.9 Billion

 

The mortgage broking industry contributes $2.9 billion to the Australian economy each year

 

These findings clearly demonstrate the value and service you are delivering to your customers – a testament to the hard work and dedication of the broking industry across the country.

MFAA members can download an exclusive pack containing a variety of resources to help you digest and share the key findings from this report with your customers. These resources include:

• Report highlights
• Customer fact sheet
• Infographics highlighting key data points, which you’re invited to share on social media
• Member outreach fact sheet with accompanying cover letter

Download here.

To access the MFAA member exclusive communication pack, click here. You will need to log-in with your MFAA membership details. 

The Mortgage Broking Industry Group consists of:

AFG, Astute Financial, Aussie, Choice Aggregation, Connective, FAST, Finance Brokers Association of Australia, Loan Market, Mortgage & Finance Association of Australia, Mortgage Choice, National Mortgage Brokers, PLAN Australia and Smartline