Some fantastic results of a survey recently conducted by the Mortgage & Finance Association of Australia (MFAA) and BankWest show just how people are starting to understand the role that a mortgage broker plays and that it is much more than just “doing the legwork” and all about having a professional who knows you and knows what your overall goals and objectives are working for you. The story is as follows:

Mortgage brokers are increasingly being seen to provide worthwhile services by the investor community, according to the latest MFAA/Bankwest Home Finance Index.

According to the survey, the number of people understanding the benefits of using a broker is at 35.7%, its highest level since a 26.9% low-point in November 2008. Conversely, the preference for banks is down nearly 5% since July 2010.

Additionally, awareness of the services that mortgage brokers can provide is at 78.9% and broker awareness is at 95% generally. The benefit of “getting the best deal” through a mortgage broker skyrocketed 18% from the 53% in July 2010.

“With increasing activity in the investor community, mortgage brokers have a tremendous opportunity to articulate a compelling value proposition based on convenience and choice,” MFAA CEO Phil Naylor said.

“We are seeing consumers understand that mortgage broker benefits extend beyond the traditional realms of leg work and wider loan range. Increasingly the ability to understand a client’s personal circumstances and finding interest rate deals are proving key reasons people are turning back to mortgage brokers.”

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