81% of Home Loans Now Go Through Brokers — Here's Why

Brokers now write 81% of Australian home loans. The MFAA is working to diversify who's doing that work — and what it means for the borrowers they serve.

Australia's mortgage brokers have reached a striking milestone. As Australian Broker reports this week, brokers have grown their market share to write 81 per cent of all new residential home loans nationwide — up significantly from levels recorded in 2018.

Four in every five home loans are now arranged through a broker rather than directly with a bank. If you're wondering whether to go through a broker or head straight to a lender, that statistic suggests most Australians have already made up their minds.

Why the Broker Channel Has Become the Default

The shift toward brokers reflects some practical realities about how the home loan market works. Brokers typically operate across a panel of lenders and compare products, rates, and criteria on your behalf. Rather than being limited to one lender's offerings, a broker can search across the market to find a loan that suits your specific situation.

For borrowers, the scale of the broker channel also creates indirect pressure on lenders. When brokers originate the majority of home loans, lenders compete harder for broker-introduced business. That competition tends to keep rates and product features sharper than they might otherwise be in a purely direct-to-consumer market.

The 81 per cent figure also means the broker model has become the mainstream way Australians buy and refinance property, not a niche alternative. If you've previously assumed going directly to your bank is the simpler path, it's worth checking whether a broker can find you a better deal. See our cheapest home loans page for a current view of where rates sit across the market.

Who's Writing Your Home Loan?

The 81 per cent share is notable partly because the broker workforce writing those loans is less diverse than the borrowers it serves. According to the Mortgage and Finance Association of Australia (MFAA), women make up just 27 per cent of Australia's broker workforce — a figure that has remained largely unchanged since 2018, even as the channel has grown substantially.

The MFAA's response is its She Means Business program, launched in June 2025 as a 12-month pilot. Nine small business owners in Australia's mortgage and finance broking sectors were selected for the inaugural cohort. The program was developed in collaboration with government grants and a consulting firm, and runs alongside parallel tech and energy sector programs.

Melanie Kafka, the MFAA's executive member experience and partnerships, said the focus is on equipping female brokers with skills and networks that support growth. Topics covered included confidence building, media training, leadership, mentoring, capability building, and work-life balance.

One of the inaugural participants, Tripti Goyal — founder, director and broker at Melbourne-based Trusted Financial Choice — described what the program gave her: "One of the biggest things this program gave me was the courage to step forward and be visible. Not because I have all the answers, but because my visibility might create possibilities for someone else. When women see other women leading businesses, working in finance and creating opportunities for others, it changes what they believe is possible."

For borrowers, a more diverse broker workforce matters in ways that aren't immediately obvious. Brokers with different life experiences and backgrounds often bring different expertise to different borrower types — someone who has helped clients navigate complex income structures, non-standard employment, or tight deposit positions brings a different kind of knowledge than one who has worked exclusively with straightforward borrowers.

Kafka made this point directly: "We need to continue to look at a diverse balance in terms of supporting how we support clients. It's not just about diversity. It's about ensuring the profession attracts and retains the best talent. And as the profession continues to grow, we need more pathways and to encourage women to build long and successful careers."

The Council of Small Business Organisations of Australia (COSBOA) partnered with the MFAA on the program. COSBOA Chief Executive Officer Skye Cappuccio said: "Working alongside organisations like MFAA has allowed us to connect with businesses that are committed to building more inclusive workplaces and supporting more women to thrive. We're excited to build on that momentum as the next round of the program begins."

The next round of She Means Business is expected to begin in spring 2026, though specific details — including participant numbers and rollout timelines — are still being finalised. Applicants must be MFAA members and small business owners.

What This Means If You're Using a Broker

If you're among the 81 per cent (or considering joining them), a few things are worth knowing. Not all brokers have access to the same lender panel. The size and composition of a broker's panel determines how wide their search can go on your behalf — it's a reasonable question to ask upfront.

There's generally no direct cost to you for using a broker. Brokers are typically paid a commission by the lender when a loan settles, and their obligation under the best interests duty is to find a loan that genuinely suits your needs — not to steer you toward the highest commission.

The broker channel is especially useful for borrowers with any complexity in their situation — self-employed income, multiple properties, a non-standard employment structure, or a deposit that stretches the typical LVR thresholds. For these situations, different lenders assess applications differently, and a broker who knows the market can identify the right fit faster than most borrowers could on their own.

If you're a first home buyer, our first home buyer hub covers the main schemes and strategies available to you. If you're an existing owner considering a switch, our refinance savings calculator can show you what a better rate could mean for your repayments over time.