Brokers see more than just problem borrowers
Mortgage brokers are now writing between 28% and 29% of all home loans in New Zealand and their client base has become far more diverse than it used to be, according to Mortgage Brokers Association chairman Brian Berry.
"In the early days of broking it was only the marginal deals that brokers got to see," says Berry, who has been in the broking business since 1985.
Over time, as the market has grown and with more satisfied clients generating increasing referrals, "we’ve become much more main stream in our clientele," he says.
"Certainly, we still do get the difficult cases – they’re coming to us because of our expertise – but a lot of what we do now is run-of-the-mill, people with good equity and good servicing ability," he says.
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