A new report released by the Mortgage and Finance Association of Australia (MFAA), prepared by Deloitte, highlights the significant contributions of mortgage brokers to the Australian economy and their role in assisting borrowers:
Economic Impact: Mortgage brokers contribute over $4 billion to the Australian economy and employ over 31,000 Australians, underscoring the vital role of Brokers in the financial sector
Enhanced Lending Competition: Mortgage Brokers improve lending competition, and are proven to help borrowers access lower rates as well as financial education
Market Share Growth: Record high market share, with Mortgage Brokers writing 74.6% of all new home loans in the September quarter
Customer Satisfaction – Less than 1% of all complaints presented to AFCA are complaints about Mortgage Brokers
Source: The Adviser
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