FHBs trust mortgage brokers the most: survey

by Julia Corderoy01 Aug 2016

When it comes to purchasing a first home, mortgage brokers are the most trusted professional by consumers, a new survey has revealed.

A national first home buyers survey conducted by First Home Buyers Australia (FHBA) shows that more than a third (38%) of first home buyers found mortgage brokers “the most useful” service provider.

Mortgage brokers were most trusted by those aged 24-31 years, with almost 60% of this age group saying mortgage brokers provide the most useful service. 

Real estate agents were voted the second most trusted professional, with 25% of first home buyers saying this was the most useful service. This was followed by buyer’s agents (11%), building inspectors (6%) and conveyancers (4%). 

FHBA co-founder Daniel Cohen said FHBA wasn’t surprised by the results. 

“Over the years, a lot of education has been done to teach consumers about the benefits of using a mortgage broker. Sometimes in the property industry it’s hard for a consumer to know who they can trust. But most mortgage brokers fortunately act with the best interests of consumers in mind,” he said.

Seeing how important home loan advice is to first home buyers, FHBA have announced a partnership with mortgage broking provider, Mortgage Australia Group (MAG), to develop a new, personalised mortgage broking service dedicated to helping first home buyers.

“This service really will make buying your first home easy. First home buyers will have access to top experts who can help their great Australian dream come true,” FHBA co-founder Taj Singh said.

Managing director of MAG, David Ham,said he was looking forward to working with FHBA to provide this exclusive home loan service for first home buyers. 

“From our experience of helping thousands of first home buyers, I can unequivocally state that for almost everyone, buying your first home is the single most important thing you can do for your financial future. 

“Once you have your foot on the property ladder, the potential to safely and reliably build wealth is now yours, you are no longer on the outside looking in.”

The partnership will ensure complete home loan comparison and application assistance for first home buyers, assistance with grant eligibility and application, access to the latest ways parents can use their position to help their children and complimentary access to FHBA Concierge.