For some homebuyers, mortgage brokers are an invaluable ally. In contrast, Australian mortgage brokers took a 59.7 per cent market share in early 2019, according to trade body the Mortgage and Finance Association of Australia. According to a 2017 Consumer NZ survey of mortgage broker customers, 51 per cent of respondents who had seen a broker in the previous five years were "very satisfied" with their service. SIMON O'CONNOR/STUFF For some homebuyers, mortgage brokers are an invaluable ally. Across the Tasman, the Royal Commission into financial services levelled criticism at the mortgage advice industry, recommending a ban on commission.

Source: Stuff February 02, 2020 18:56 UTC