A non-major bank today announced a partnership with a broker group, which will add an additional 500 brokers to its existing network of 12,000.
ME Bank CEO Jamie McPhee said, “ME first established a broking channel in 2011 and partnering with one of Australia’s best-known brokerages, Mortgage Choice, adds an important piece to our mortgage strategy.
“The partnership provides ME with another major ‘shopfront’ to broaden the distribution of our home loans nationally while giving Mortgage Choice customers greater choice and a more competitive home loan offering,” he added.
ME plans to add three new BDMs to support the accreditation of the Mortgage Choice brokers.
Mortgage Choice CEO Susan Mitchell said, “The addition of ME Bank to the Mortgage Choice lender panel further strengthens our product offering and aligns with our goal to cater to our customers’ ever-evolving needs.”
Brokers currently contribute around 70% of ME’s new home loan sales.
McPhee said, “Mortgage brokers have allowed ME to compete with larger banks and more importantly, have provided the ability for ME to connect with borrowers.
“Without mortgage brokers, ME could not fully realise its core purpose of helping Australians get ahead through home ownership. This partnership with Mortgage Choice helps more people to realise their property dreams,” the ME CEO concluded.