Abstract
Overview
Introduction
The broker channel has become increasingly important in the distribution of
mortgage products in the Australian market over the last few years. This
report looks at how the mortgage broker channel is changing and focuses on
issues and challenges faced by brokers.
Scope
- Uses Datamonitor' s Australian Mortgage Broker Survey 2007 to understand
brokers' thoughts of various mortgage issues and challenges.
- Quantifies the size of the broker channel in the Australian mortgage
market.
- Analyzes current trends in the broker channel.
Report Highlights
In Datamonitor' s Australian Mortgage Broker Survey 2007, 26% of brokers
thought their refinancing business would increase, down from 41% of
respondents surveyed in 2006. This indicates that refinancing is not as
significant a growth segment for mortgage brokers as it once was.
Broker groups are expected to undergo further consolidation, as competition
increases and as economies of scale become more important. Lower margins on
residential mortgages means that efficiency and scale becomes more important,
and that smaller players will have a harder time to stay competitive.
The increasing consolidation of mortgage brokers can be seen as a sign the
industry is maturing. Some industry sources believe that consolidation and
regulation may herald a new era for mortgage brokers, and that stability will
increase as lenders commit to long-term third party distribution.
Reasons to Purchase
- Provides you with the analysis of how the broker channel is changing, thus
allowing you to better plan your distribution strategies.
- Learn about the challenges facing the Australian broker channel and adapt
your strategies accordingly.
- Learn who are the most commonly used mortgage lenders in the broker
channel.
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