A new report has shown how a mortgage broker’s expertise is essential for home buyer confidence.
Lenders mortgage insurance (LMI) provider Helia has revealed in its Home Buyer Sentiment Report 2024 that home buyers (particularly first home buyers) have expressed a need for support through the home-buying process, with mortgage brokers playing a crucial role.
The report was prepared by CoreData on behalf of Helia during August 2024 and collected responses from 1,965 first home buyers (FHB) and 1,037 current property owners.
According to the report, more than half of FHBs indicated the lack of familiarity and support to navigate the home-buying process.
It found that around 57 per cent of home buyers needed support in researching properties, understanding affordability and financing, determining borrowing capacity and researching loan availability.