The Times Australia
Small Business News

.

How coronavirus is affecting mortgage broker sentiment

  • Written by Media Release


A survey of mortgage brokers from Australia’s leading mortgage broker platform HashChing has revealed the state of mortgage broker sentiment on government subsidy programs, and how brokers see the pandemic affecting the property market.


CEO of HashChing, Arun Maharaj, said while the global pandemic was having a significant impact on the mortgage broker industry, many brokers were generally optimistic about their future outlook. 


“Brokers have been forced to adapt how they interact with customers, and there’s no doubt that challenges have come with having to transition to a fully digital operation. Yet we’re seeing brokers pivot strategies and take advantage of new digital tools and technologies; 91% of respondents in our latest survey said that Digital Mortgage provisions enacted during lockdown (e.g. allowing the witnessing of documents to happen via video call, electronic signing of deeds, etc) should be made permanent. 


“I’m pleased to see many brokers are doing their due diligence in getting comfortable and efficient with working and communicating with customers remotely. In fact, the majority of respondents (57%) said they believed the coronavirus lockdown disruption will have a net positive impact long term for their business. During these difficult times, it’s of course important to be realistic and take the time to review current processes, but having an optimistic attitude goes a long way,” continued Mr Maharaj. 


The majority of brokers surveyed (83%) said they supported the extension of government subsidy programs such as JobKeeper. 60% believe that the property market will be severely impacted if these programs are cancelled.


“While we don’t yet know exactly what impact the global pandemic will have on our economy, it’s been very severe already. Many are predicting it will get much worse before it gets better. It’s therefore not surprising that none of our respondents think now is a good time for property investors to be buying more property. 81% of respondents think that now is a better time for first home buyers,” concluded Mr Maharaj. 


 

Do you support the extension of subsidy programs e.g. JobKeeper?

Yes

83%

No

17%

 

 

Do you believe the property market will be severely impacted if these programs are cancelled?

Yes - I believe this will have a major negative impact on demand for my services

60%

No - I believe that this will have a minor/survivable impact on demand

40%


 

Digital Mortgage provisions enacted during lockdown (e.g. allowing witnessing of doc to happen via zoom, electronic signing of deeds) are temporary. Should they be made permanent?

Yes

91%

No

9%


 

In your opinion, will the coronavirus lockdown disruption be a net positive or negative impact long term (e.g. >2 years) for your business

Net negative - the benefits won’t outweigh the lost business

43%

Net positive - we’ll come back better and stronger

57%


 

Do you feel the RBA cash rate will go higher, lower or stay the same this calendar year?

Higher

0%

Lower

19%

Stay the same

81%


 

Right now is the best time for…

First Home Buyers

81%

Investors

0%

Renovators

6%

None of the above/ the patient

13%


--

Property Times

Rubber vs Concrete Wheel Stops: Which is Better for Your Car Park?

When it comes to setting up a car park in Perth, wheel stops are a small feature that make a big difference. From improving driver accuracy to preventing costly damage, the right choice between rubber and concrete wheel stops could save you time, mon...

What Is the Australian Government First Home Buyers Scheme About?

For many Australians, buying a first home can feel like a daunting task—especially with rising property prices, tight lending rules, and the challenge of saving for a deposit. To ease this burden, the Australian Government has introduced a First ...

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages and risks, and choosing the right one depends on your financial goals, ...

A Guide to Smarter Real Estate Accounting: What You Might Be Overlooking

Real estate accounting can be a complex terrain, even for experienced investors and property managers. From tracking rental income to managing property expenses, the financial intricacies of real estate demand more than just basic bookkeeping. A si...

Food & Dining

Not all processed foods are bad for you. Here’s what you can tell from reading the label

If you follow wellness content on social media or in the news, you’ve probably heard that processed food is not just unhealthy, but can cause serious harm. Eating a diet dominated by highly processed foods means you’re likely to consume more kil...

Italian Street Kitchen: A Nation’s Favourite with Expansion News on Horizon

Successful chef brothers, Enrico and Giulio Marchese, weigh in on their day-to-day at Australian foodie favourite, Italian Street Kitchen - with plans for ‘ambitious expansion’ to be announced in the coming months.  Italian Street Kitchen: A slice o...

Après Skrew: Peanut Butter Whiskey Turns Australia’s Winter Parties Upside Down

This August, winter in Australia is about to get a lot nuttier. Skrewball Whiskey, the cult U.S. peanut butter whiskey that’s taken the world by storm, is bringing its bold brand of chaos to Aussie shores with Après Skrew: a mash-up of alpine energy...

450 people queue for first taste of Pappa Flock’s crispy chicken as first restaurant opens in Queensland

Queenslanders turned out in flocks for the opening of Pappa Flock's first Queensland restaurant, with 450 people lining up to get their hands on the TikTok famous crispy crunchy chicken tenders. The highly anticipated opening comes after months of d...

Business Times

Your CEO Has More Reach Than Your Ad Budget – You’re Just Not Usi…

By Patrice Pandeleos, Managing Director of Seven Communications If your CEO hides behind a logo while competitors build infl...

From Farms to Festivals: How Regional NSW Is Repurposing Shipping…

Regional NSW communities are repurposing containers for farms, tourism, and events Farmers and small businesses use them...

Nail it with points: Flybuys members can redeem points for instan…

Flybuys launches new in-store redemption at Bunnings stores across Australia Tuesday 19 August, 2025 – Flybuys, Australia’s ...

The Times Features

How much money do you need to be happy? Here’s what the research says

Over the next decade, Elon Musk could become the world’s first trillionaire[1]. The Tesla board recently proposed a US$1 trillion (A$1.5 trillion) compensation plan, if Musk ca...

NSW has a new fashion sector strategy – but a sustainable industry needs a federally legislated response

The New South Wales government recently announced the launch of the NSW Fashion Sector Strategy, 2025–28[1]. The strategy, developed in partnership with the Australian Fashion ...

From Garden to Gift: Why Roses Make the Perfect Present

Think back to the last time you gave or received flowers. Chances are, roses were part of the bunch, or maybe they were the whole bunch.   Roses tend to leave an impression. Even ...

Do I have insomnia? 5 reasons why you might not

Even a single night of sleep trouble can feel distressing and lonely. You toss and turn, stare at the ceiling, and wonder how you’ll cope tomorrow. No wonder many people star...

Wedding Photography Trends You Need to Know (Before You Regret Your Album)

Your wedding album should be a timeless keepsake, not something you cringe at years later. Trends may come and go, but choosing the right wedding photography approach ensures your ...

Can you say no to your doctor using an AI scribe?

Doctors’ offices were once private. But increasingly, artificial intelligence (AI) scribes (also known as digital scribes) are listening in. These tools can record and trans...