Aussie Home Loans has cracked the $2 billion milestone in home loans lodged during October through its three distribution channels – mortgage brokers, retail outlets and aggregator subsidiary nMB.
The group’s 150 retail stores broke through the $1 billion milestone for the month in loans provided to new buyers, re-financers and investors.
Aussie chairman and founder, John Symond, says the retail result is a standout, as Aussie only established a substantial retail arm following the acquisition of Wizard Home Loans in 2009.
“This result is due to the hard work of the entire Aussie Group and demonstrates that volumes are returning to a more healthy market condition as buyers take advantage of low interest rates,” he says.
The $2.1 billion group result for the month represents a 22.1% lift above October 2012.
On the back of the growth, Aussie is on the expansion trail with a recruitment drive for former real estate and finance executives to become mobile brokers and franchisees of new stores.
“We’ve seen substantial growth across our three distribution channels and are keen to find new brokers and franchisees to join our successful and winning team”, says Symond.
Aussie’s total loan portfolio is now worth $57 billion, including aggregator nMB, which was acquired by Aussie in 2012.
“All three of our distribution channels are firing and we see no reason for our growth to slow, as interest rates continue to bump along the bottom and our operations are becoming more efficient and effective in servicing our new and existing customers.”
The announcement follows yesterday's from AFG, who processed more than $4 billion in home loan applications last month.