Download the Whitepaper

A study of 40 Australian home loan borrowers

We wanted to find out:

1. How do people choose the way they get their next loan?
2. How loyal are home loan customers to their previous broker?

To find out the answer to those questions, we conducted one-on-one interviews with 40 Australians who had a mortgage – 25 broker customers and 15 direct-to-lender customers.

Read on to see the results and recordings from actual interviews!

We interviewed two types of home loan borrowers

Key findings from broker customers

Clients who received regular calls from their broker:

Have the highest level of trust with their broker
Are less likely to open rate-based emails from rival brokers
Are more likely to show rival offers to their broker

Watch and listen to some of our broker customers in the study!

Key findings from direct-to-lender customers

95% said their banks do nothing to stay in touch with them

85% weren't concerned about their current loan setup

10% feel some sort of loyalty to their lender

95% planned to visit a comparison site to first research rates

15% would ask their lender to match a lower rate

Little love for the lender...

In general, direct-to-lender customers have little love for their lender, although they feel some level of trust and comfort in dealing with a familiar institution. These customers are very rate-sensitive and like emails that promise them lower rates or special offers. Many of these customers went direct-to-lender because they felt brokers would be more likely to steer them to the loan that paid the highest commission rather than the best loan.

Download the full paper to find out:

+ Which emails get the highest open rates
+ How customers react to various offers and imagery
+ The 7 big lessons for mortgage brokers

Home Loan Study