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ING DIRECT to ramp up lending

Staff Reporter 3 minute read

Jessica Darnbrough

ING DIRECT has outlined plans to increase its mortgage production by 20 per cent in 2011 at an industry road show in Sydney today.

Lisa Claes, executive director of mortgages at ING DIRECT, told brokers they could expect the increased production to come with a pipeline of service improvements to enhance the broker and customer experience.

”Next year will see an aggressive expansion of production compared to with 2010,” she said.

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Brokers and mortgage managers would also remain a key focus for ING DIRECT, Ms Claes emphasised.

ING DIRECT is encouraging brokers to support non-major lenders as a key way of promoting competition in the financial sector.

“Currently the Big Four write close to 90 per cent of mortgages. In no other industry is there such a concentration, except groceries,” said Ms Claes.

“Support of second tier lenders by brokers is crucial for a competitive environment within the financial services sector” said Ms Claes.

As part of its push to increase market share ING DIRECT also announced the appointment of Peter Hayward as the new head of broker distribution.

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Mr Hayward will bring a wealth of experience to the new role having held the title of head of distribution and marketing at Citibank for the past five years.

ING DIRECT to ramp up lending
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