A new survey has revealed the reasons Australians in today’s economic environment like turning to mortgage brokers.
The vast majority of Australia’s mortgage brokers want to see more support from the government in 2021.
The average mortgage for Australians buying an existing home has hit half a million dollars thanks largely to ongoing record-low interest rates.
Mortgage brokers have another win from the federal government after buying more time to earn commissions for draw downs on extra debt.
The spectre of automation and technology hangs over a lot of industries in 2019 and the finance and mortgage sectors are not immune from innovation and evolution.
Treasurer Josh Frydenberg is moving to implement some of the Hayne royal commission recommendations for mortgage brokers, targeting best-interest duties and bonus commissions.
Despite the recent handing down of the Hayne royal commission report, broker market share of Australian home loans has reached a record high.
Broker group Finsure says if some of the recommendations from the Hayne Royal Commission are brought in it will set the Australian home loan market back 30 years because it will give the banks more power.
Mortgage brokers are reeling and angry today after the banking royal commission final report put the industry on shaky ground.