Why people are choosing mortgage brokers over banks for home loans | The Business | ABC News

Two years of steep hikes in interest rates have sent more customers to brokers to get a better deal on their home loans and reduce crippling repayments.
Just five years ago, mortgage brokers wrote 55 per cent of all home loans in Australia.
Soon that will top 75 per cent.
As the the Reserve Bank board meets to set interest rates, brokers say they are busier than ever.
Their share of the market keeps growing despite brokers being paid fees and commissions from lenders, which a royal commission described as "conflicted" and "money for nothing".
Brokers must now act in the best interests of borrowers after that royal commission.
A major concern for CHOICE is the majority of loans written by brokers are still going to the Big Four banks or one of their subsidiaries.
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