Why More Aussie Borrowers Prefer Mortgage Brokers to Banks

In a significant, but unsurprising milestone for Australia’s home lending landscape, mortgage brokers have reached a record-high market share of 74.6% in the September 2024 quarter. Nearly three out of every four new home loans are now written by brokers rather than banks. At MoneyQuest, we’re proud to be part of this nation-wide shift, offering Australians more choice, personalised service, and a smoother path to home ownership.

More Options, Better Outcomes

MoneyQuest brokers provide you with access to a wide array of lenders and loan products, far beyond what’s available at a single bank. This extensive network enables brokers to find competitive and tailored loan solutions that align with your specific financial situation. At MoneyQuest, our brokers meticulously compare numerous loan options to secure the most suitable mortgage for you. This personalised approach ensures you’re not just getting any loan—but the right loan that fits your needs and goals.

Expert Guidance, Every Step of the Way

Securing a home loan can be daunting and time-consuming. Mortgage brokers simplify this journey by handling the intricate details on your behalf. From assessing your borrowing capacity to managing the paperwork, MoneyQuest brokers offer expert support at every stage. This guidance not only saves you valuable time but also reduces the stress often associated with buying a home.

Trust Built Through Results

The growing preference for mortgage brokers reflects the trust Australians place in their ability to navigate today’s challenging lending environment. Recent industry data shows that brokers facilitated over $103 billion in home loans during the September quarter alone.

Sean Reid, Managing Director of the Money Quest Group, remarked, “We know our brokers deliver some of the best client experiences in the country, so this milestone for the industry is no surprise. It’s a testament to their dedication, expertise, and the tangible results they achieve for Aussies every day.”

This confidence is further strengthened by legal obligations like the Best Interests Duty, which applies exclusively to brokers and requires them to prioritise your needs above all else—unlike banks, which are not bound by the same obligations. Our dedication to acting in your best interests underpins our client-focused service, building lasting relationships founded on trust and proven results.

The Bigger Picture

The record-breaking market share achieved by mortgage brokers isn’t just a noteworthy statistic—it’s indicative of a broader shift toward more personalised and competitive lending solutions. With brokers facilitating the majority of new home loans, borrowers benefit from greater access to loan products specifically tailored to their circumstances. This empowerment through choice can lead to better financial outcomes and a more seamless home-buying experience.

Choosing a mortgage broker means embracing more options, receiving expert guidance, and enjoying peace of mind throughout your home loan journey. At MoneyQuest, we’re dedicated to making this journey as effortless and stress-free as possible. If you’re exploring your home loan options, connect with a MoneyQuest broker today and discover how we can help you find the right loan solution tailored just for you.

Take the first step toward your dream home. Contact MoneyQuest now and let us guide you every step of the way.

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