Broker approaches $1bn in settlements

by Madison Utley03 Jun 2019

Last year’s Australian Mortgage Awards ‘Broker of the Year’ is rapidly nearing the $1bn landmark in loan settlements.

Since starting as a single-broker operation in 2011 at Loan Market Bayside in Melbourne, Josh Bartlett has settled $952m in loans.

Over Loan Market’s 25 years, executive chairman Sam White can’t recall a broker closing in on the "billion dollar club" as quickly as Bartlett.

While his performance has been consistently strong throughout his career, the rise in market activity following the election, APRA’s proposed credit easings and an anticipated cash rate cut have helped catapult him towards the goal even faster than expected.  

“Josh [was] likely to reach the magic number around November, but with the bounce in market sentiment, he has the chance to reach his milestone well ahead of time - maybe even over the next quarter,” explained White. 

Bartlett said that activity picked up on the Monday immediately following the federal election.

“Clients that had their pre-approvals lapse are now back and extremely serious about getting into the market. There’s always a lull in activity leading into an election, but I’ve been taken aback by the turnaround in activity during the last fortnight,” he said.

According to White, Bartlett’s experience is indicative of an industry-wide shift.    

“The majority of brokers I’ve spoken with over the last fortnight have reported a surge in enquiry and intent from borrowers, and they’re very optimistic about the remainder of the year,” he said.