Brokers 'vital' to success, says non-major

by Caroline Dann03 Aug 2012

 

Heritage Bank claims brokers are vital to its ongoing success, after announcing record profits last year.
 
It announced a 13th consecutive year of record profits yesterday, alongside an increase in loan approvals.
 
CEO John Minz told Australian Broker Online part of the success was down to its growing broker channel. 
 
“It now accounts for around 50% of the mortgage loans that we approve, so is vitally important to us,” he said.
 
“We believe the future of lending through the broker network is extremely bright for Heritage.”
 
Last year, Heritage expanded its broker network to include WA, Tasmania and the Northern Territory. 
 
Minz says the performance of these states “exceeded expectations in the first six months, especially in Western Australia.”
 
“We are now a truly national player in the market... [however] it’s not just expanding our network that has made a difference. We have had to back that up with excellent products, competitive pricing and great service to brokers and to their customers.”
 
“One of the big advantages that Heritage offers is our personalised service to brokers, which enables us to tailor individual solutions to suit the different circumstances their clients might have.” 
 
He said the variable rate, which was discounted last year, proved very popular with the broker network.

COMMENTS

  • by Ray 30/08/2012 7:57:35 PM

    Brokers? I have never heard from a BDM in the 8 years i have been in the game.