According to the Consumer Access to Mortgages 2025 report, produced in partnership with the Finance Brokers Association of Australia (FBAA), nearly 60 per cent of borrowers will roll off fixed-rate loans in the next 12 months, potentially increasing financial pressure.  

The report reveals a significant contrast between financial strain and consumer confidence in brokers, with 82 per cent of borrowers expressing trust in mortgage brokers compared to much lower confidence in bank staff.

First-home buyers are particularly reliant on broker services, with 43 per cent of future first-home buyers planning to use a broker when entering the market. FBAA Managing Director Peter White AM said it was an evolving landscape for brokers amid economic changes. "While brokers remain the preferred channel for many, shifting economic conditions and digital disruption are reshaping how borrowers think about their next home loan," Mr White said.

The impending fixed-rate expiries present both challenges and opportunities in the property market. The report indicates that 57 per cent of mortgage holders will transition from fixed to variable loans within the year, with many facing significant increases in repayment amounts.

Despite financial pressures, refinancing activity is increasing. Sixteen per cent of borrowers have already refinanced their loans, while nearly half are actively considering this option to manage their financial situation. Many households experiencing mortgage stress are still considering property investments or strategic moves rather than completely withdrawing from the market.

The report highlights a significant knowledge gap about broker services, with 40 per cent of consumers not fully understanding what mortgage brokers do. Nearly half incorrectly believe they will be charged fees for broker services. This presents an educational opportunity for real estate professionals to provide value by clarifying the role of brokers and introducing trusted financial partners to their clients.

Mr Playsted said that the rise in broker market share has coincided with the introduction of best interests duty (BID), which is a new law that requires mortgage brokers to act in the best interests of the Australian consumer, when providing credit assistance.

Trust has also become a critical factor in consumer decision-making, with 39 per cent of borrowers expressing "complete trust" in their broker compared to just 20 per cent for bank employees. As interest rates remain elevated and economic pressures continue, the relationship between financial services and real estate is becoming increasingly intertwined, with consumers seeking trusted advisors to navigate complex financial decisions.