Franchise breaks settlement record

by Julia Corderoy11 Aug 2016
Aussie Home Loans has reported record results over FY2016, increasing home loan settlements by 10%.

The franchise brokerage settled $22 billion worth of mortgages over the year, including over $3.5 billion by Aussie’s wholesale mortgage aggregator nMB, up from $20 million in the previous financial year.  June 2016 was also the biggest month in the company’s 24-year history

Aussie’s record result also coincides with the franchise opening its 200th store in Sydney inner west suburb of Balmain. 

“Our retail channel continues to be a standout performer and it is poignant that our landmark 200th store opened today is owned and operated by one of our longest standing and most successful mortgage brokers, Lindsay Rogers,” Aussie CEO James Symond said.

Aussie Balmain is Lindsay’s second Aussie franchise and one of 25 Aussie stores opened during the financial year. Lindsay opened Aussie Newtown with his son Matthew in 2012, after working with Aussie as a mobile broker and a sales manager for almost two decades. 

The father and son team have expanded their partnership, opening Aussie Balmain together with one of their experienced Newtown mortgage brokers, David Leotta.

The franchise grew its total broker numbers 20% to 1,450 in the 2016 financial year.

“There was literally no part of the business that wasn't enhanced over the past 12 months. We expanded and strengthened our product range, invested heavily in IT infrastructure, brought our customer contact centre in-house, moved to world-class headquarters at Grosvenor Place and continued to provide our brokers with exceptional training and events. It’s been a big 12 months,” Symond said.

The Aussie chief also said he expects another record year this financial year, and hinted at a new upcoming campaign. 

“Despite some headwinds in overseas markets and a more subdued property market in Australia, we have hit the ground running in the new financial year and expect to post another record result this financial year.

“We’re also continuing to invest heavily in the Aussie brand with a new campaign to be rolled out for Spring, so watch this space.”

In January 2015, Aussie launched its Smart to Ask campaign, targeting the almost 50% of Australians who don’t use a mortgage broker, urging them to get a “free” and “expert” second opinion from a broker on their home loan.