Aggregator bucks weak market

by Adam Smith13 Feb 2013


In spite of a weak lending market, another aggregator has claimed record settlements.
Connective has announced it hit two consecutive months of record settlements in November and December. The aggregator settled loans totalling $1.497bn in November and $1.458bn in December.
The announcement comes following a dismal month for credit growth. ABS figures released earlier this week showed home loans in December fell 10% year-on-year.
In spite of the subdued environment, Connective is the third broking group in recent days to announce record-setting figures. Aussie Home Loans this week announced it had achieved its best ever January results,  with national settlement figures for January up by 12% on last year. AFG also claimed a record January, saying it saw 24% year-on-year growth.
Connective principal Murray Lees expressed optimism in the midst of a weak market.
"2013 is shaping up to be one of our best years on record and our brokers are
optimistic about the opportunities that will come forth in the year ahead. We are very close to eclipsing the $1.5bn monthly settlement milestone and we’re confident that mark will be surpassed shortly," he said.
Lees said the results were a "reminder of the opportunities which remain despite uncertain market conditions".