Aggregator set to become country's third largest
A major aggregator has claimed it will become the country’s third largest within the next six to 12 months.
Vow Financial has forecast strong growth in the final quarter of the year. The aggregator has recorded 56% growth in settlements for the financial year to date, compared to ABS reported market growth of 15%.
The results come on the heels of the aggregator’s acquisition by Yellow Brick Road in 2014.
“We believed in Vow’s potential from the outset,” YBR chairman Mark Bouris said.
Bouris said the aggregator was expected to deliver $3bn in settlements in the final quarter.
“Since acquiring the group last year we have increased loan writers by 20% and made significant improvements to our product offering, including the launch of Vow Home Loans,” Bouris said.
Bouris said Vow had been particularly strong in NSW, where it outperformed other broker groups four-fold. He said the company expected to become the third largest mortgage broking group in the country within the next six to 12 months.