Brokers hitting $1bn mark with bank

HSBC sees a strong comeback to the mortgage market through Aussie's broking network

Brokers hitting $1bn mark with bank



Aussie Home Loans' brokers are set to hit $1bn in mortgage lodgements with HSBC within the next month, just eight months after HSBC Australia announced its comeback to the broking business in partnership with Aussie.

HSBC became the 21st lender on Aussie’s panel after a 10-year absence from the mortgage broking space. The bank stopped offering mortgages to brokers after it sold its broker-originated loan business to Firstmac in 2006.

Its return to the broking space came more than a year after it slowed its lending activity to property investors in the wake of APRA’s decision in December 2014 to apply a 10% cap on banks’ investor lending.

The partnership has given HSBC access to Aussie’s network of over 200 retail stores and more than 1,000 brokers across the country.

“We’ve had a really strong start to our relationship with HSBC over the last seven months and have built up some great momentum going into 2018,” said Aussie chief executive James Symond in a joint statement released 17 January.

“The addition of HSBC to our panel has given our brokers and customers even greater choice of quality home loans, and this impressive response speaks for itself.”

Aussie offers HSBC’s range of home loans and the opportunity to access HSBC Premier, HSBC’s global premium offering for customers.  

“We were excited to partner with Aussie from the beginning and we’re even more excited by the strong results we’ve seen in such a short period of time,” said HSBC Australia’s Head of Mortgages and Third Party Distribution, Alice Del Vecchio. “Aussie’s footprint and quality broker network has given us the added reach we needed and we’re thrilled by the response from Aussie’s brokers and customers.”

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