Brokers are positioning themselves as a source of flagship financing, particularly among young people. Borrowers are increasingly soliciting these professionals rather than going directly to a banking institution.
Young people plebiscite intermediaries
Brokers have taken a fundamental place in the highly competitive environment of finance. These experts in intermediation are genuine substitutes for banking institutions. If banks retain their priority status to finance household projects, the fact remains that brokers manage to advance their pawns. And this is indeed the case for mortgages contracted more and more from these players. A recent survey shows this with no less than 35% of respondents who confirm that they have used a broker rather than a bank to succeed in their home ownership.
In addition, this imposing market share of brokers is reinforced by a 6-point increase compared to previous data dating back to 2015. An increase supported by young people increasingly attracted by intermediaries in banking operations. Indeed, among respondents between 18 and 34 years old, 61% of them say they preferred to solicit a broker rather than their bank. A statistic that illustrates the popularity of these professionals up 20% by referring to the 2015 survey.
Varied and competitive offers
This can be explained in part by the curiosity of young people to look for alternative offers as seniors move towards more ordinary paths. It is therefore not surprising that the solicitation of a broker decreases as the age of the respondents increases. Individuals in the age group 35-49 years are 34% to have done and the data decreases to 21% for 50 years and over.
And these organizations are also able to offer flexible credit offers that can meet all types of borrower. Unlike banks, brokers can provide more flexible terms. How? Through their multiple banking partners who provide offers tailored to applicants’ profiles and resources. But not only since an intermediary in banking operation will seek to identify the best credit offer at the best rate offered by its banking partners.
Finally, brokers are not only specialized in mortgage lending. Indeed, they have a wide range of products such as the purchase of credit, consumer credit or insurance borrower also.