One of Australia’s fastest-growing mortgage providers has revealed the exponential growth it has experienced through the third-party channel over the last four years.
ASX-listed lender Pepper settled more loans in the first six weeks of 2015 than the entire year of 2011.
Speaking to The Adviser, Pepper’s director of sales and distribution, Mario Rehayem, said the group has experienced “exponential growth” in its volumes over the past four years, which he said is the direct result of the group’s continued education about specialist lending and a consequent surge in broker engagement.
“I’d like to congratulate brokers on recognising the importance of offering an alternative option to their customers,” Mr Rehayem said.
“It’s great to see and hear and experience first-hand how much the industry has evolved and how brokers have embraced alternative lenders,” he said.
Pepper has been actively working with brokers to educate them about the full range of products and services it offers to all borrowers – from non-conforming clients to self-employed business owners and prime borrowers.
Since 2011 when the group decided to accelerate its mortgage offering in the third-party channel, Pepper has seen a 46 per cent year-on-year increase in the number of brokers using its products.
While some non-banks have been targeting the investor space, Mr Rehayem said investor demand has little to do with Pepper’s success.
“Brokers are appreciating that our product and service to their customers is market-leading in terms of turnaround times and a transparent, consistent offering.”
Pepper listed on the ASX on 31 July this year.
[Related: Pepper flags key product offerings]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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