iscover
iscover 
In its financial results for the half year ending 31 March 2025 (1H25), major bank ANZ has reported that 67 per cent of new home loans were settled by mortgage brokers during this period, equal to the revised 67 per cent during the same period last year (previously reported as 65 per cent).
New mortgages settled for the bank rose from $41 billion in 1H24 to $42 billion, with brokers being responsible for settling $28.14 billion worth of those loans.
Additionally, broker-originated loans for ANZ’s total Australian mortgage portfolio rose from 58 per cent in the six months to 31 March 2024 to 60 per cent in 1H25.
Despite a drop in the number of home loan accounts, down from 950,000 in 1H24 to 940,000, ANZ’s total funds under management (FUM) increased from $314 billion to $333 billion, with the average loan size growing from $331,000 to $354,000.
The average loan size for new mortgages also increased from $558,000 to $580,000.
The share of mortgages taken out by owner-occupiers and investors remained flat for the third year in a row, with 68 per cent for owner-occupiers and 31 per cent for investors.
However, for new mortgages, investor numbers increased to 38 per cent from 37 per cent, while owner-occupiers fell from 63 per cent to 62 per cent in 1H25.
ANZ further reported a small increase to its mortgage market share of 0.1 per cent to 13.6 per cent.
These financial results also marked the first release since Suncorp Bank’s acquisition on 31 July 2024.
According to ANZ, home lending momentum has improved since the acquisition, with Q2 applications being 40 per cent higher than the previous corresponding period, with growth of over 1.6 times system during the month of March 2025.
For home lending (both investor and owner-occupier), Suncorp Bank recorded a slight increase to $59 billion from $58 billion in the six months to September 2024 (2H24), while business lending (comprised of agribusiness, commercial, and SME lending) remained flat at $13 billion.
The channel of choice is clear
Similar broker flow results were seen in the half-yearly results for Westpac and NAB, suggesting that brokers are still the preferred channel for home loan customers.
According to Westpac’s results, the flow of new mortgages originated through the broker channel increased to 67.5 per cent in the six months to 31 March 2025, while new mortgages originated through the proprietary channel dropped to 32.5 per cent.
Meanwhile, while NAB’s broker-originated flows for new mortgages declined from 60.1 per cent to 59.6 per cent from half to half due to its deliberate shift toward a focus on proprietary lending, the major lender’s overall mortgage portfolio revealed an increase in broker-originated loans, up from 52 per cent to 52.9 per cent.
This further supports the findings released by Mortgage & Finance Association of Australia (MFAA), which revealed that mortgage brokers were responsible for settling 76 per cent of all new residential home loans across the December quarter 2024.
[RELATED: NAB’s broker distribution holds strong as proprietary shift continues]
