This represents a record market share for mortgage brokers. Mike Felton, CEO of the Mortgage Finance Association of Australia (MFAA), explains that one of the main reasons is that brokers have implemented sweeping reforms over the years which has now earned them the trust and loyalty of consumers, in particular, the best interests duty.
Here are three reasons why brokers offer value:
1. Brokers have a legal obligation to act in your best interests (unlike banks)
2. Brokers compare loans from a range of lenders (not just one)
3. In most cases, brokers don’t charge for their service.
If you are looking for a home loan, call iShare today and join a long list of our happy clients, who are also receiving monthly cash rebates of trail commissions.
