The latest figures from the Mortgage and Finance Association of Australia (MFAA) show the highest ever market share for lending through the loan broker channel, which processed 60.1 percent of all home loans between July and September 2020.
The September 2020 figure was 5.2 percentage points higher than the same period in 2019, 1 percentage point higher than the same period in 2018, and 0.4 percentage points higher than the previous market share of 59.7% recorded in March 2019.
The overall Australian Bureau of Statistics trend for home loans shows a record high of $17.3 billion in September this year. This is also due to the stimulus of preferential policies such as ultra-low interest rates and subsidies for first-time home buyers currently in the market.
Mike Felton, chief executive of the MFAA, also affirmed the pivotal role that mortgage brokers play in supporting housing and economic recovery. The growing number of consumers choosing a mortgage broker to handle their loan needs is a sign that consumers are gradually regaining confidence and trust in the Australian housing market. The brokerage industry is expected to further increase its market share in the coming years.
So why are more and more potential consumers choosing Broker, and what are the benefits of looking for a Broker for loans?
Making loans through a Broker is different from Banker, which only serves one employer. The broker will have a large number of products from various banks and financial institutions. When choosing loan banks and products for customers, they will fully consider the needs of customers and select them as needed. Choose the most suitable product for the customer.
However, if the loan manager of the bank is found, the manager will most likely recommend the bank’s designated products, and the customer will also potentially lose some more suitable loan products.
Vipshop Credit is a platinum-level broker of major banks and has long-term cooperation with dozens of banks and financial institutions, providing hundreds of financial product options including residential, commercial, car loans, and overseas loans.
Loan brokers have undergone long-term training, and can only answer customers’ questions and deal with copywriting on the premise of fully understanding the capital market and loan policies. Experienced loan brokers can recommend the most suitable products for you at the first time through your financial situation.
Loan brokers have rich experience and contacts, and their resources are wider than that of a single bank. While solving loan problems for you, they can also provide you with relevant advice on finance, wealth management, investment, etc.
Once the right mortgage broker is chosen, some clients will use their broker to provide credit for a long period or even a lifetime.
Loan brokers will always understand your financial situation, fundamentally consider and solve your loan or mortgage problems for you. During the actual loan process, customers can contact the Broker at any time to inquire about the loan progress, and the Broker will also feedback on your loan situation for the first time. Compared with the process of borrowing from a bank, the bank often encounters the situation of untimely contact, language barriers, and inability to keep up with the new progress promptly.
We are the credit advisor you can trust for life
After understanding the advantages of choosing a Broker in the above points, professional loan brokers win by providing high-quality services to customers. Broker has professional and rich personal experience and has the patience and care to help every customer get the most satisfactory products and applications.
Vipshop Credit was established at the end of 2014 and is located in the heart of Sydney. As a top credit company, we maintain close cooperation with major Australian banks and more than 20 financial institutions. Provide professional home loans, auto loans, and business and commercial loan services for local and overseas customers in Australia at any time. The company set up a branch in China in 2015. Since its establishment, it has been nominated for the Australia Mortgage Award, MFAA Excellence Award, and won the “Best Customer Service Award” in the selection of the authoritative magazine ” The Adviser ” in 2018. In 2020, Vipshop officially announced its entry into the Tasmanian credit market.
Vipshop Credit has a good reputation in the industry. In the past six years, we have successfully provided tailor-made loan solutions and other financial services to thousands of distinguished customers. At the same time, we continue to optimize customer experience, improve the approval process, and allow customers to control themselves. financial future!