Brokers working longer, harder

by BN23 Apr 2008

More than a quarter of mortgage brokers are willing to meet clients outside of regular business hours to fit in with their customers' schedules, a new MFAA/BankWest survey has revealed.

It also found that more than half of brokers are willing to meet a potential client at their residence - something that sets them apart from their branch network counterparts.

Despite a recent report saying that the value of brokers is slipping in the eyes of the lenders, consumers continue to favour brokers for their hard work and knowledge of lending options.

"The hard work of brokers is obviously paying off," said MFAA CEO Phil Naylor. "Our joint survey with BankWest last year showed brokers had a customer satisfaction rating of 7.5 out of 10, compared to 6.9 for banks."

The research conducted by the industry body in conjunction with BankWest showed that the top three reasons why customers choose to deal with brokers are: the amount of time saved; the range of products available; and brokers' experience.

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