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Mortgage Choice adds non-major to panel

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Malavika Santhebennur 4 minute read

The major brokerage and aggregator has added a non-major bank lender to its panel, with its loan products available from 29 April.

Mortgage Choice has announced that it has added Bank of Queensland (BOQ) to its panel of lenders.

The major brokerage began offering BOQ’s mortgage products to its customers from 29 April, it said.

Commenting on the addition of BOQ, Mortgage Choice general manager of product and corporate communications Emma Dupont-Brown said: “We are excited to welcome BOQ to our lender panel and bring our brokers and customers even more choice in the home loan process.

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“As one of Australia’s leading regional banks, BOQ is a welcome addition to our growing lender panel. They’ve invested in their broker service proposition to deliver a streamlined process that both brokers and customers can benefit from. We’re looking forward to partnering with them in this exciting growth phase.”

BOQ general manager of broker Kathy Cummings also spoke about the non-major bank lender’s partnership with Mortgage Choice, stating: “We are delighted to join the Mortgage Choice lender panel. This partnership with a nationally recognised brand allows us to expand the distribution of our home loans across the country and help more Australians realise their property goals.

“We are committed to delivering a simple and convenient service to brokers and a seamless experience for their customers. We strongly believe in the broker value proposition and the service they deliver to 60 per cent of Australian borrowers.”

In November 2020, Mortgage Choice added digital bank 86 400 to its residential lending panel, which it said would allow its brokers to offer clients a completely digital home loan solution.

Major brokerage Aussie recently added BOQ to its lender panel, with brokers able to offer BOQ loans from mid-May.

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The non-major lender recently released its financial results for the first half of the 2021 financial year (1HFY21), in which it reported lending growth of $1.065 billion as at 28 February 2021, up from $782 million in 1HFY20. The growth was driven by a $997-million increase in housing lending in 1H21, representing annualised growth of 6.5 per cent on 2H20, or 1.6 times system growth.

The non-major bank said that 23 per cent of its portfolio was originated by the broker channel, up from 20 per cent in 1H20 and 21 per cent in 2H20.

[Related: Aggregator offers in-house loan processing support]

Mortgage Choice adds non-major to panel
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Malavika Santhebennur

Malavika Santhebennur

Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.

Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.

 

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