{
  "id": 13778178,
  "title": "A record 82% of Australian home loans now rely on mortgage brokers. Why?",
  "url": "https://urgent.news/2026/10/11/a-record-82-of-australian-home-loans-now-rely-on-mortgage-brokers-why",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-11T18:19:39.000Z",
  "source": {
    "name": "The Conversation AU",
    "slug": "the-conversation-au",
    "url": "https://theconversation.com/a-record-82-of-australian-home-loans-now-rely-on-mortgage-brokers-why-292781"
  },
  "original_language": "en",
  "account": "In recent years, an increasing number of Australian home loans are being arranged through mortgage brokers, with 81.6% of new and refinanced loans in June 2026 being brokered. This represents a significant rise from 50.1% in June 2016. The national body representing Australia's mortgage brokers states that Australia is now one of only three countries along with the United Kingdom and the Netherlands where brokers facilitate more than 80% of mortgages.\n\nSeveral factors have contributed to this shift. A study published in 2024 found that many home buyers find home loans confusing and rely on brokers for assistance. The big banks are often seen as inflexible and expensive compared to brokers, who borrowers perceive as more trustworthy. However, studies have shown that while borrowers who use brokers feel more confident in their loan choice, they may actually have less understanding of home loans compared to those who dealt directly with lenders.\n\nBrokers' increasing relevance can also be attributed to the difficulty in accessing in-person bank services, with over 2,100 bank branches closing between 2017 and 2023. Furthermore, the past decade's volatile interest rates, reaching a high of 4.6% in 2026, have put pressure on borrowers to secure lower rates. The \"best interest\" duty imposed on brokers since 2021, requiring them to meet a higher standard of acting in their clients' best interest and providing multiple options, has yet to be consistently implemented.\n\nMortgage brokers receive commissions from lenders for the loans they arrange, typically comprising an upfront percentage of the loan value and an ongoing trail commission. This financial incentive may lead brokers to recommend high-value, long-term loans, even if they are not the most suitable for the borrower. However, brokers predominantly earn their income from repeat customers and referrals, so maintaining client satisfaction remains a priority. If you wish to explore a loan directly with a lender, it is generally easier for those with a stable income and good credit history, though mortgage brokers can still assist those with less conventional circumstances.",
  "summary": "A broker might be able to get you a competitive deal – but that doesn’t mean you can’t achieve a similar result on your own.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}