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91% of broker clients would recommend their broker

29 November, 2021 | 
Pureprofile 

Originally published: The Advisor, 18 November 2021

Broker clients overwhelmingly believe brokers act in their best interests and would recommend them to friends and family, new bank research has found.

According to new research conducted for MyState Bank, 90 per cent of broker clients believe mortgage brokers act in their best interests and 91 per cent would recommend the services of brokers to family and friends.

The findings were drawn from a September 2021 survey of 517 Australians who had used a mortgage broker in the past three years.

Conducted by Pureprofile on behalf of MyState Bank, the research aimed to better understand the borrower experience, particularly given that approximately 60 per cent of all loans come through the broker channel.

It found that 86 per cent of broker clients surveyed were either very satisfied or satisfied with the experience of securing a mortgage through their broker.

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