Just lately launched knowledge has proven that mortgage brokers have continued to assert market share regardless of what organisation chief has termed “one of the crucial difficult intervals for the trade in latest reminiscence.”
In line with analysis commissioned by the MFAA, mortgage brokers settled 56.8% of all residential house loans between October and December 2018, the highest-ever residential house mortgage market share evidenced in that quarter.
Throughout the identical October to December interval, the general measurement of the market declined 11.8%, which means that mortgage brokers have continued to take market share from the proprietary channel.
Moreover, the determine exhibits a 3.2% acquire as in comparison with the December quarter of the yr earlier than, and is the biggest share level acquire for the December quarter within the final 5 years.
MFAA CEO Mike Felton mentioned, “That is an excellent outcome within the context of an general decline in market measurement, ongoing credit score tightening, and the unfounded criticism and uncertainty that got here with the royal fee.
“This quarterly market share consequence is additional proof that the competitors, alternative, and entry to credit score that mortgage brokers present continues to shine by and inform the true story of an trade that could be a drive for good,” he added.
The info additionally confirmed that the main aggregators settled $48.77bn of recent house loans through the December 2018 quarter, a 6.6% decline within the general worth of recent lending in contrast year-on-year to the $52.24bn settled in December 2017.
