Major franchise reaches $50 billion loan book

by Julia Corderoy22 Oct 2015
Major mortgage franchise Mortgage Choice has reached a new milestone, as its loan book officially hits $50 billion for the first time.

Mortgage Choice CEO John Flavell said the achievement is significant for the 23-year-old company. 

“Over the last 23 years, Mortgage Choice has steadily grown into one of the country’s biggest branded brokerages,” he said.

“Today, our network of mortgage brokers writes approximately one home loan every 15 minutes. In total, we have helped more than 400,000 Australians achieve their dream of property ownership – either by purchasing an owner occupied home or building their wealth through property investment.”

Looking ahead, Flavell said Mortgage Choice will focus on diversifying its business and becoming a one-stop-shop for consumers.

“With the introduction of financial planning, Mortgage Choice is now well equipped to meet the growing financial needs of all Australians, something we will look to capitalise on this year.

“Further, given that the property market continues to show real signs of strength, I am confident that we will not only be able to achieve another strong financial result this year, but achieve another loan book milestone in the not-too-distant future.”

The franchise has already reported it has grown its home loan approval and settlement numbers over the first quarter of FY16, in comparison to the previous corresponding period. 

“In fact, July was our second biggest month on record for home loan settlements, which bodes well for the 2016 financial year,” Flavell said.