- 8 February 2019
The Mortgage Broking Industry: The Facts
From being a real estate professional and investor in the real estate industry for just on 20 years now, I like many others were amazed at the recommendations of the Royal commission that were released this week.
I personally (and know hundreds, even thousands of others) who have benefited enormously from mortgage brokers.
Mortgage brokers assist to get the best loan option, across a variety of different lenders.
Yes, they get paid, for providing an initial and ongoing service!
The last update we saw, was that just under 60% of all Australian home loans were facilitated through a broker.
Does this show an industry that isn’t doing the right thing for their clients?
When we as clients are voting with our feet and getting the best option for ourselves?!
If the broker network market share is reduced and the banks have the majority, what do you think will happen to our home loan interest rates?
This would also mean that we would have less access to the second-tier/smaller lenders and therefore less access to credit.
Brokers are critical in regional and rural areas, where the big 4 retail banks have less of a shop front presence.
There are two great resources to review and show your support to the broker network via the following:
https://www.brokerbehindyou.com.au/
https://www.change.org/p/federal-treasurer-josh-frydenberg-save-the-mortgage-broking-industry
You can and will be able to see by the level of support, especially in the petition including the comments, that there are many logical reasons why a lot more discussion is needed for this very valuable industry.
Please review and show your support, so these decisions can be reviewed, with clear consultation with consumers and the industry, so competition can prevail!
Have a great weekend and catch you next week!
Property Club being the leaders in Wealth Creation through property for 20+ years now, with over 20,000+ properties settled by Club members is in the enviable position of being best placed to assist YOU to have a retirement avoiding the pension!
https://www.propertyclub.com.au/contact-us/
Contact your Property Mentor for guidance and assistance on the best deals we have at the moment and let us show you how to avoid the pension!
Have a great weekend and catch you next week!
Warm Regards,
Troy
Related Posts
The Real Cost of Prestige – Is the Price Tag Worth It?
For property investors, the allure of premium suburbs has always been clear, but the reasons these areas continue to outperform the broader market go far beyond just status and prestige. Despite higher entry costs, these blue-chip locations offer unique advantages that make them a valuable part of a well-rounded...
The Real Growth Happens After the Headlines Fade
In property investment, most people chase the boom. They rush in when headlines scream about record-breaking prices and FOMO drives competition. But by the time the media notices the action, the best buying window is often gone. What experienced investors know is this: the real opportunity often lies in the second...
Australia’s Economic Winners in 2025: What Property Investors Need to Know
WA leads the charge The latest CommSec State of the States report for April 2025 is in, and it's clear some states are pulling ahead in the economic race. For investors, this isn’t just interesting reading — it’s a blueprint for where smart money is going. Western Australia has taken out the top spot for the third...