First home buyers the most likely to use a mortgage adviser
FAMNZ’s Consumer Access to Mortgages 2024 report shows that while 35% of borrowers used a mortgage adviser the last time they took out a mortgage, this increased to 46% over the past 12 months to October/
First home buyers have been at the front of the queue, with 59% using this channel over the past year instead of approaching banks directly.
While owner-occupiers have been less likely to work with mortgage advisers, they are increasingly moving toward the channel, with 40% using a mortgage advisers. Investors have been relatively steady at 32%.
About 12% of those surveyed secured or refinanced their mortgages in the past 12 months.
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