Investment loans dominate the market and the majority of investors use a mortgage broker, according to new research.
Investment property loans have grown by 37 per cent in the last four years, while owner occupied loans grew by 4 per cent in the same period, according to the Roy Morgan Research Consumer Single Source Survey.
In another survey, conducted by Property Investment Professionals of Australia, almost 70 per cent of 800 property investors say they have sought services from a mortgage broker.
So what is it that draws property investors to mortgage brokers? Undoubtedly one of the biggest selling points is that brokers can shop around to secure the best product and lender to suit the client. As a mortgage broker we invest our time in staying up to date with the latest products and we have a large panel of lenders from which we can compare loans.
Mortgage brokers have a wealth of knowledge and many investors don’t have as much time as they would like to devote to the financial dealings involved in a property purchase so it helps to know they can rely on a broker to step them through this process.
It is often reported by property investors that what sets brokers apart is a passion for their job and a willingness to go the extra mile for their clients. That certainly describes us to a tee!