Mortgage brokers run off their feet

More than forty per cent of all home loan borrowers sourced their loan through a mortgage broker in June, up from 30 per cent in 2005, according to a report by mortgage insurer Genworth.

Brokers wrote and settled $18.3 billion in new home loans in the June quarter, according to figures from independent consultants Market Intelligence Strategy Centre (MISC), an 18 per cent increase on the same period a year ago.

“Many brokers and lenders were run off their feet with surging demand … not just for first home buyers but also investors,” said the MISC report.

ANZ has the highest amount of loans sourced through brokers, at around 50 per cent of their total loans sold according to Mortgage Choice.

Source: Business Spectator/AAP