Mortgage franchise Aussie Home Loans
has revealed plans to expand its national network to 300 stores while adding 300 new brokers over the next three years.
This growth is in line with an increasingly complex market for consumers featuring more lenders, more sophisticated products and more flexible pricing, Aussie CEO James Symond told Australian Broker
. These trends have seen broker market share shoot up to 55.7%
in September this year.
“You can see that mortgage broking continues to gain momentum.”
By 2020, up to 70% of the market share would be taken by brokers, he said, movement which is in line with current trends seen over in the UK.
“At the end of the day, it’s such a powerful consumer offering, it can only go one way. The repeat business from people who use mortgage brokers is extraordinary because of what the service proposition is.”
Aussie will reach these dual broker and branch targets through a “very strong organic growth program,” Symond added.
“Our stores have been an extraordinary success overall. Consumers love them. Our brokers love them. And it’s been a key part of our growth that we’ve seen in the past ten years and we will see in the future.”
This organic growth has been used to grow the business over the past year combined with training programs and effective recruitment efforts of both those within broking and finance as well as those new-to-industry, he said.
Aussie’s growth strategy involves a strong national marketing campaign to get more consumers in the front door as well as growing the broker business exponentially as the overall market share increases.
“For us to increase our market share – for us to do better than marketplace – it means that our existing brokers need to be writing more business and need to be doing better themselves as well as seeing new brokers come aboard and new stores opening at the same time.”
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