• Contact
  • Feedback
Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Youngies love their brokers

17 May 2013 4:46PM
Young home-buyers are more likely to use a mortgage broker to find a home loan than older buyers.A survey of the use of brokers by Roy Morgan Research, released yesterday, shows that those who have used a mortgage broker to find their home loan are more likely than other mortgage-holders to be in the 25 to 34 age bracket.This finding supports recent research by CoreData, which found that "young people especially" see value in the advice a broker can offer them.Roy Morgan looked at how much business different lenders did through brokers. ING Direct sells 73 per cent of its mortgage through brokers, Macquarie Bank sells 70 per cent, and Bendigo and Adelaide Bank sells 62 per cent.At the other end of the scale, National Australia Bank sells 21 per cent of its mortgages through brokers, Westpac sells 23 per cent, Commonwealth Bank sells 25 per cent and ANZ sells 36 per cent.Roy Morgan said that of the total stock of mortgages, 29 per cent were purchased through brokers. Back in 2009, the proportion was 25 per cent.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use