Many mortgage brokers are fearful of their ongoing existence and are calling on broker groups to assist them in broadening the range of services they offer clients, new research shows.

A third (32 per cent) of mortgage brokers are of the opinion the traditional pure mortgage broking model is no longer commercially viable, preliminary results from the annual CoreData Mortgage Broker Affection study reveal.

Many broker businesses in Australia have struggled to adapt to reduced revenue streams, as lenders cut commissions and the global economic crisis reduced residential lending volumes, but many brokers appear willing to now adjust business models.
Full Story