Articles

Australians turning to brokers in record numbers

03/11/2025

The number of borrowers who are choosing brokers over banks has never been higher – and is rising at a very sharp rate.

In the June quarter, banks originated only 22.4% of new home loans, compared to 77.6% by brokers, according to data by Cotality, which was commissioned by the Mortgage & Finance Association of Australia. This is not only a record result, it's a significant increase from one year earlier (73.7%) and two years earlier (67.2%).

At the same time, Canstar analysis of banking data has found that the number of bank branches throughout Australia as of 30 June was 5% lower than in 2024 and 33% lower than five years earlier.

Why more borrowers turning to brokers:

• More choice. Brokers can access dozens of lenders, not just one, giving borrowers a wider range of loan products and interest rates.
• Personalised service. Brokers take the time to understand each borrower’s goals and financial situation.
• Expert guidance. We help navigate complex lending criteria and compare options that can be hard to decipher alone.
• Convenience. With many banks reducing face-to-face services, brokers provide flexible, human support online or in person.
• Best Interests Duty. We are legally required to act in our customers’ best interests – banks are not.

Contact me if you’d like to explore your home loan options or compare rates across multiple lenders.