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Brokers lend a hand to the Belconnen property market

By Ben Faulks

Using a mortgage broker to secure finance to buy Belconnen real estate has its advantages, and the latest figures show an increasing number of people are starting to take notice. Figures from the Mortgage and Finance Association of Australia (MFAA), compiled using data from 17 brokers and aggregators, showed just how popular this way of securing a home loan has become.

During the three months to March 2016, 53.7 per cent of new residential mortgages were secured by brokers, up from 51.9 per cent a year earlier. The value of these loans totalled $43.4billion – a notable rise from the $40.6billion registered in the March quarter of 2015.

Will brokers increase their market share?

CEO of the MFAA Siobhan Hayden was surprised by the statistics, especially as they reflect what is typically a quieter period of the year for mortgage lending.

"Homebuyers are realising the benefits of working with an accredited finance broker more than ever before, which strengthens the credibility and increases the profile of our profession," commented Ms Hayden.

As the popularity of brokers continues to rise, there's no reason why more people won't choose to finance their real estate in Belconnen in this way. The Australian Bureau of Statistics revealed earlier this month that dwelling commitments for owner-occupied housing were down 0.9 per cent in trend terms between February and March.

Meanwhile, the value of these loans declined 1.2 per cent, perhaps reflecting the seasonal slowdown that the MFAA pointed towards.

Whether you're using a broker or approaching lenders yourself, you will ultimately need an expert to guide you through the property market. Ray White Belconnen has been in the real estate industry for many years and has the knowledge and expertise you need to make sure your property investment is as successful as it can be.

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