PLAN brokers settled record amount in January

According to the NAB-owned aggregator, the group saw $1.9 billion of loans settle last month, the largest settlement month in its history.  

Speaking of the milestone, PLAN Australia CEO Anja Pannek commented that the milestones were “testament to the hard work our members do with customers each and every day, especially over  the course of a very challenging 2020”.

She continued: “Our industry is critical to some of the most important decisions Australians make with respect to their financial lives. Despite the year that we’ve had, results like this demonstrate that the future is bright and mortgage brokers play a very important role in the market.

“This level of commitment and hard work through times of significant change reflects the great service our members provide their customers.”

She added that the aggregator was committed to “building on this level of dedication” by continuing to provide members with “industry-leading support in 2021”.

The PLAN figures echo similar record-breaking activity from other aggregation groups, such as Finsure, as Australia experiences record levels of mortgage applications and refinances.

Indeed, figures from the Australian Bureau of Statistics have shown that the total value of new home loan commitments rose by 8.6 per cent (seasonally adjusted) in December 2020 to $26 billion, the largest monthly commitment level on record.

Owner-occupier home loan commitments have also been hitting new highs, as federal and state government measures such as the HomeBuilder grant and First Home Loan Deposit Scheme, as well as record-low interest rates, are supporting ongoing growth in housing loan commitments.

[Related: 2020 closed with new record mortgage activity]