NZers generally don't know about mortgage advice: New reseach

New research, commissioned by the Finance and Mortgage Advisers Association of NZ , says that the majority of New Zealanders are unfamiliar with the services offered by mortgage advisers, with only 28% indicating that they are extremely or very familiar.

Twenty two per cent are “not familiar at all”, rising to 34% of non-mortgage holders.

The results come as a surprise considering nearly two thirds of home loans originated by the big banks come from mortgage advisers and the percentage is arguably higher for the small banks.

FAMNZ managing director Peter White says the lack of awareness about mortgage advisers is “alarming and embarrassing.”