Aussie continues growth path

by Malavika Santhebennur•05:35 AM, 24 Nov 2020•10 minute read

The major brokerage is expanding its distribution channel in the final months of 2020, which it said has come amid a surge in home lending.

Aussie has announced that it has had over 15 new stores approved, and 85 new brokers and franchisees recruited and “in the field”.

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Many of Aussie’s new stores are located in city and regional areas of Australia’s largest property markets, including NSW and Victoria, with the latter emerging from lockdown, and with it strong, pent-up demand for property purchase, according to the brokerage.

Store locations will include Melton and Heidelberg in Victoria; Bankstown, Vincentia and East Maitland in NSW; Firle and Marion in South Australia; and Mount Ommaney in Queensland.

Commenting on the expansion of Aussie stores, CEO James Symond said the franchise business is nearing its goal of 1,200 brokers and 300 stores by the end of 2022.

He added that the business is also expanding growth roles, with network development managers added to the eastern seaboard, focused on targeting Aussie’s growth in the region.

“We’re in acquisition mode and looking to help more people into their very own mortgage broking business. We have territories across Australia that are still waiting for the right person to come in and really own their local market,” Mr Symond said.

“Our goal is to ensure that any customer, anywhere can talk to a local broker. Our focus will continue to remain on providing the right platform and support for broker success.”

Speaking about the new broker recruits, Mr Symond added: “We are providing new recruits with industry-leading training, cash flow support and mentoring to help them get their businesses up and running, with many attracted to a fast-growing company and industry, which supplies the majority of home loans in Australia.”

Upon completion of the training program, the recruits will be qualified for a Certificate IV in Mortgage Broking, and could attain a full Diploma in Mortgage Broking over a 12-month period.

Aussie recently recorded $1.64 billion in settled home loans in October, and is forecasting record settlements worth $18 billion for the 2020-21 financial year, following a surge in lending in the first quarter to 30 September 2020, worth over $6 billion.

According to Mr Symond, the Reserve Bank of Australia’s decision to drop the official cash rate to 0.10 per cent, which has flowed through to mortgage interest rates, particularly fixed rates, has boosted the traditionally strong spring season.

[Related: Aussie John retires]