Growing trust in mortgage advisers in New Zealand

The New Zealand Consumer Access to Mortgages 2024 report reveals a notable shift in the mortgage landscape, highlighting increasing reliance on mortgage advisers. With financial pressures mounting, borrowers are turning to advisers for their expertise and support in navigating the complex mortgage process.

Increased preference for advisers

The report found that 46% of new mortgages in the past year were secured through mortgage advisers, a significant increase from 35% historically​. This growth reflects borrowers’ recognition of the value advisers provide, particularly during challenging economic times. Advisers’ ability to compare rates, simplify processes, and offer tailored guidance has positioned them as trusted partners in securing mortgages.

First-time buyers lead the trend

First-time buyers, in particular, are driving this change. Among those securing mortgages in the last 12 months, 59% of first-time buyers opted for mortgage advisers over proprietary channels like banks​. This marks a growing trust in advisers’ ability to deliver better outcomes for those entering the property market for the first time.

Why borrowers are choosing advisers

The key factors influencing this shift include:

1. Ease and convenience – Advisers streamline the application process.
2. Access to competitive rates – Advisers can compare offers across multiple lenders.
3. Guidance – Borrowers benefit from professional advice, especially for complex financial situations​.

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The New Zealand Consumer Access to Mortgages 2024 report signals that mortgage advisers are playing an increasingly vital role in helping New Zealanders secure mortgages. As financial stress persists, advisers are well-positioned to meet the needs of borrowers and support future market growth.

FAMNZ’s Consumer Access to Mortgages 2024 report is an annual research initiative conducted by independent research firm, Agile Market Intelligence, in partnership with the Finance and Mortgage Advisers Association of New Zealand (FAMNZ). The objective of the report is to provide an overview and comparison of consumer preferences. A nationally representative sample of 1,000 consumers completed the online, self-accessed quantitative survey.

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