Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Aussie reports record lending in March

aussie home loans office aussie home loans office
Reporter 4 minute read

The major brokerage reportedly hit record lending volumes in March, and said it is expecting loan settlements to reach $10 billion for the first six months of 2021.

Aussie has announced that it has achieved “record” lending volumes in March 2021 worth about $2 billion in settlements and about $3 billion in lodgements of loan applications.

According to the brokerage, it will reportedly reach $10 billion in loan settlements for the first six months of the 2021 calendar year amid the “strong growth” in lending.

Aussie attributed the growth in lending to owner-occupiers, who made up 35.3 per cent of the volumes. Other notable segments were refinancers (25.6 per cent), first home buyers (22.2 per cent) and investors (a lower 16 per cent), according to the major brokerage.

Advertisement
Advertisement

The company also reported that the number of mortgage brokers had grown by 188 in the financial year to 31 March 2021, which it said was up almost 70 per cent compared with the previous corresponding period.

Meanwhile, Aussie stated that it is on track to open 24 stores over the 2021 calendar year, which would increase the total number of stores to 244.

The CBA-owned broker group, which is set to merge with online brokerage Lendi later this year, has set itself a target of having 300 stores and 1,250 brokers by 2023.

Commenting on the lending trends, Aussie CEO James Symond said: “We are looking to expand our successful retail network to cope with the higher demand for home loans amid the record-low interest rates, with owner-occupiers and refinancers the most prolific in their activity.

“We are seeking new brokers, not necessarily with a finance background, who are customer-driven with face-to-face service either through our network of stores or in the field.”

PROMOTED CONTENT


He concluded: “The low rates, real estate price growth and heavy competition among lenders has created unprecedented demand for expert home loan advice from our brokers, and we expect lending volumes will continue to grow throughout 2021.”

[Related: Home values up 400% in 30 years: study]

Aussie reports record lending in March
aussie home loans office
TheAdviser logo
aussie home loans office

 

more from the adviser
warning Major banks reveal major issue of abusive transactions

The big four banks have acknowledged that more needs to be done o...

Ross Mcewan Buying 86 400 will fire up competition: Ross McEwan

The chief of the big four bank has denied that the 86 400 takeove...

NAb building logo NAB offers $2k grants to Cyclone Seroja victims

The big four bank is offering $2,000 grants to customers and sta...

FROM THE WEB