Leading independently owned retail mortgage broker Priority Lending is launching a national campaign this weekend aimed at bolstering the company’s independent advantage for consumers looking for a home loan.
Priority Lending Corporate Spokesperson Paul Smith said going to a mortgage broker is almost always better than just relying on a bank for a home loan. However, for complete piece of mind, working with an independent mortgage broker gives customers the complete confidence that they have an expert on their side.
Mr Smith said new data has shown consumers are increasingly relying on mortgage brokers to find the best home loan.
He said a recent Mortgage and Finance Association of Australia (MFAA) study showed in the March 2012 quarter 42 per cent of all home loans inAustraliawere written by mortgage brokers – a dramatic increase of 25 per cent over the past 10 years.
“Increased industry regulation has been a factor is improving the quality and professionalism of mortgage brokers,” Mr Smith said.
“This in turn has been a factor in increasing the positive perception of the value consumers could get from this service.”
Mr Smith said in the near future it was likely at least one in every two home loans would be written by a mortgage broker.
“Many consumers find using a mortgage broker beneficial because a broker provides a comprehensive overview of the home loan market,” he said.
“Essentially if customers just got to their bank for a home loan they will only ever be shown a tiny portion of the products available in the market. A mortgage broker brings the home loan market to the customer.”
Mr Smith said recent Australian Bureau of Statistics (ABS) housing finance figures for March 2012 showed banks are approving almost 90 per cent of home loans.
“Consumers don’t have the time to compare the hundreds of loans available and even if the client is only interested in the major banks, mortgage brokers are the solution,” Mr Smith said.
He said consumers gain added confidence in knowing they’re receiving independent help by dealing with a mortgage broker that isn’t a major bank.
Mr Smith said the message in Priority Lending’s upcoming television campaign was going to be clear – a Priority Lending mortgage broker will fight for their customers to ensure they match them to a suitable product.
He said the opening TV commercial would air during the Seven Network’s high rating 6pm news bulletin on Sunday night.
“Priority Lending is proud to beAustralia’s largest independently owned retail mortgage broker, with over 800 home loan products to choose from and is a great option for people looking to see if they can find a better deal,” Mr Smith said.
About Priority Lending
Founded in 1994, Priority Lending is Australia’s fastest growing retail mortgage brokerage settling more than $6 billion in home loans annually through a team of over 600 brokers in Australasia. Priority Lending is part of the Ray White Group of companies, which were established over a century ago and is one of the largest private companies in Australia with over $25 billion in real estate sales annually and international operations in Asia, the Middle East and New Zealand.
Source: Priority Lending