ANZ and NAB increase proportion of loans through mortgage brokers

The post ANZ and NAB increase proportion of loans through mortgage brokers appeared first on Oak Laurel.

Data from ANZ and NAB shows that they have increased the proportion of loans coming through mortgage brokers

Mortgage brokers accounted for 48% of ANZ’s home loans over the year, increasing a percentage point from 47% in the 2014 financial year. Home loan originating through the ANZ’s proprietary channels still account 52%, down a percentage point from 53% over the year to September.

NAB, which released its full-year results earlier this week, showed an increase in mortgage broker originated home loans. The NAB’s full-year results, showed that loan through mortgage brokers grew by 12% over the year to September, while those through NAB’s proprietary channels increased by only 7%.

The trends observed at both ANZ and NAB are likely to be similar in other lenders and are an indication of consumers making the choice to use mortgage broker more generally. This is also supported by data from other sources showing an increase in the use of mortgage brokers over time. With the market so complex and difficult to compare there is little wonder that consumers are using mortgage brokers to assist them.

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