Major mortgage and wealth franchise Yellow Brick Road (YBR) has reported its biggest month of mortgage settlements ever.
Over December 2015, YBR achieved its highest month of mortgage settlements in the company’s history with more than a 50% increase in settlements compared to December 2014. YBR declined to provide the total value of mortgages settled over December due to commercial sensitivity.
However, according to YBR executive chairman Mark Bouris
, YBR saw $12 million in lodgements and 23 applications submitted for its own-branded Empower Range alone over the three working days between Christmas and New Years, 29 December to 31 December.
“This is unheard for the industry where many brokers usually don’t return to work until Australia Day,” Bouris said.
Looking ahead at 2016, Bouris says he still expects to achieve growth in mortgage settlements, albeit at a slower pace.
“The [regulatory] changes have slowed down investors but homeowners are still hot on the trail for a better deal on their mortgage. In a year of historically low rates and lenders fighting harder for owner-occupier business, we’ve had more people than ever jumping in and grabbing a deal with us,” he said.
“Over the past quarter, Yellow Brick Road has consistently delivered highly competitive rates by quickly responding to industry changes. This is growing the Yellow Brick Road business and we plan to continue to launch fresh innovative ideas and challenge the banks in the year ahead.”