Brokers' volume drops, but recovering
The amount lent by mortgage brokers last year took a dip – but appears to be on the rebound again.
Friday, May 19th 2006, 3:36AM
by Rob Hosking
Mortgage Brokers Association chief executive Megan Salt says she does not understand why the KPMG figure shows a drop in mortgage broker lending for 2005 but says that figure is “somewhat historical”.
There seems to have been a surge in mortgage broker activity this year, she says.
Salt says an advertising campaign by the association, along with the specific campaigns by three individual mortgage brokers, has boosted the industry’s profile.
“Anecdotally, brokers are saying they are very business at the moment.
“And we’ve seen the recent Mike Pero campaign, Mortgage Choice re-branding themselves as Roost and the campaign around that, and then the Adam Parore Mortgages campaign…two established firms and one with a fairly well known name.
It’s all boosting the industry profile, and, we expect, business.”
The association has paid to run a survey on the effectiveness of the campaign on the back of the regular AC Nielsen survey, and the results of that will be out at the end of the month, she says.
On the subject of commissions, and their impact on behaviour, Salt says the industry is changing.
“There’s even a bit of trail commissions coming back.
“I think the market is changing now, people are coming in with a much higher level of awareness of brokers and there’s a lot of activity out there.”
Rob Hosking is a Wellington-based freelance writer specialising in political, economic and IT related issues.
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