Australia mortgage brokers handle record 81.6% of home loans

Mortgage brokers in Australia now facilitate a record 81.6% of all new and refinanced home loans, according to June 2026 figures. This represents a significant increase from 50.1% in June 2016, placing Australia among only three countries—alongside the United Kingdom and the Netherlands—where brokers handle more than 80% of mortgages.

While consumers often turn to brokers due to the complexity of home loans and perceived inflexibility of major banks, research suggests a potential decline in financial literacy, as those using brokers may have a lower understanding of loan mechanics than those dealing directly with lenders.

Simultaneously, the Australian Securities and Investments Commission (ASIC) has identified issues regarding broker conduct. A review found instances where brokers recommended loans that cost borrowers more than $20,000 extra over five years. ASIC also noted that some large broking networks lacked sufficient data to identify these costly recommendations and reported that certain groups may have undermined audit integrity by tipping off brokers before inspections.