20% of the mortgage business comes to the bank through a broker
Entities such as Idealista, iAhorro and Trioteca lead the ranking. They make a living from the commissions paid to them by financial institutions, which range between 0.5% and 1% of the volume lent.
Mortgage brokers such as Idealista, iAhorro, and Trioteca have become a significant channel for banks to acquire new business in Spain. They act as intermediaries between clients and banks, helping clients find the best mortgage deals and earning commissions from banks for bringing in new business. The brokers typically don't charge clients for their services, instead earning between 0.5% and 1% of the loan amount from banks.
In major cities, one in five mortgages is now obtained through these brokers, who have become popular due to their convenience and ability to compare offers from multiple banks online.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
