Non-major's mounting mortgage book now worth $13.8 billion

by AB08 Oct 2013

Macquarie Group’s share of the mortgage market has flown skyward in recent months, with the latest APRA data showing the non-major lender’s mortgage book is now half the size of Bank of Queensland’s.

While Macquarie officials were unavailable for comment to Australian Broker due to a media blackout leading up to their half-year results, The Australian reports that a partnership with Mark Bouris’ Yellow Brick Road, as well as increased broker support, are heavily behind the upswing.

The lender’s book has increased to $13.8b, compared to BoQ’s $26.2b and Adelaide Bank’s 31.4b. However, it’s still exponentially lower than CBA’s market-leading $330b.

UBS analyst, Jonathan Mott, told the publication that Macquarie has been very active in the mortgage market over the past half year and that, in August, managed to grow its book by $313m – around double Suncorp’s and nearly half of Westpac’s.

Furthermore, Mott claims Macquarie's momentum is likely to continue as it gains flow from Yellow Brick Road and mortgage brokers.

Macquarie rose to fourth place in this year’s MPA Brokers on Banks survey, up from a seventh place ranking last year and twelfth place in 2011.