ING Direct has declared it will boost mortgage production by 20% in 2011, and has recruited Peter Hayward, formerly Citibank head of broker distribution, as the individual who will head the bank's broker push.
Executive director of mortgages at ING Direct, Lisa Claes, has said brokers can expect the increased mortgage production to come with a pipeline of service improvements to enhance the broker and customer experience.
Speaking to brokers at the group's Sydney roadshow today, Claes said the 2011 push marked an "aggressive exapansion".
She also declared brokers as a key market for the bank. "Brokers and mortgage managers will remain a key focus for ING Direct going forward and our commitment to remain branchless is a testament to that commitment.”
ING Direct's new head of broker distribution, Peter Hayward, will commence in early November.
Claes encouraged brokers to support non-major lenders as a key way of promoting competition in the financial sector.
“Currently the Big 4 write close to 90% of mortgages, in no other industry is there such a concentration, except groceries. Support of second tier lenders by brokers is crucial for a competitive environment within the financial services sector.”