Powered by MOMENTUM MEDIA
Broker Daily logo

Aussie achieves new settlement record

Australia’s largest broking group has posted a record-breaking year in settlements during 2014-15, with its retail channel passing the $1 billion mark in June alone.

Aussie posted a record $20 billion in home loan settlements across the group last financial year, including $16.8 billion through its brokers and franchise stores.

The group’s stellar year was capped off with $1.98 billion in settlements for June, which included wholesale aggregator nMB, with Aussie’s retail channel settling more than $1 billion in loans for the first time.

Aussie said its loan book (including nMB) is nearing $70 billion, and its branded home loan products are currently the most popular among borrowers.

==
==

Chief executive James Symond said Aussie has achieved all of its “ambitious” growth targets for the year, with its retail and mobile broker channels reporting record lending volumes.

“Aussie also reached an important milestone in our 23-year history, employing our 1,000th mortgage broker, while we have just opened our 175th purpose-built store. The mobile mortgage broker channel is also going full steam ahead, settling a record $600 million in June,” he said.

“Borrowers are flocking to property during the current historic low interest rate climate, which I believe is set to continue for the foreseeable future.”

Mr Symond said Aussie was continuing to invest heavily in technology and customer service to improve customer experience and productivity, with one example being its plans to open an in-house customer service centre in October.

“In this increasingly competitive home loan market, we need to deliver the best customer service proposition possible to our customers and brokers across all areas of our business, and have determined our own customer service centre based in Sydney will contribute to achieving this goal,” he said.

More on Economy
11 November 2024
An increase in mortgage demand has suggested that consumer confidence is beginning to improve amid rate cut expectations
11 November 2024
The Treasury’s analysis of Australia’s economic performance highlighted plenty of concerning trends. However, business ...
11 November 2024
Mortgage interest charges have continued to rise, however, have been offset by lower fuel and electricity prices.