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More brokers turned to Connective Home Loans in 2024 as demand grew for flexible lending solutions beyond traditional mortgages.
A record 59% of Connective brokers used the portfolio, marking a 7% increase from the previous year. This contributed to a 27% rise in settlements, which reached $4.9 billion, while total loan applications grew by 19% to $7.4 billion.
Michael Goerner, head of Connective Home Loans, attributed the increase to an expanded loan offering that helped brokers navigate changing client needs in a competitive lending environment.
“Last year, a big focus for us was ensuring brokers had the right support to better serve their clients and create opportunities for them to grow their business, especially in a challenging market. With nearly 60% of loan deals falling into non-traditional loan types, such as near prime and specialist loans, brokers need access to flexible solutions beyond traditional lending,” Goerner said.
He added that new products, including private lending through Connective Advance and bridging finance via Connective Bridge, were introduced to meet growing demand.
Loan activity peaked in the final quarter of 2024, with applications reaching $2.07 billion between October and December. Meanwhile, settlements were highest in the third quarter at $1.35 billion.
“We’ve consistently seen Q3 as our strongest settlement quarter, showing how brokers are leveraging CHL’s fast turnaround times and broad lending range to convert applications into outcomes,” Goerner said.
