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.

ING Direct sees surge in commercial lending

coin stacks coin stacks
Emma Ryan 5 minute read

ING Direct has increased its commercial portfolio by more than 17 per cent in a year.

Mark Woolnough, head of third-party distribution at ING Direct, said the achievement is a result of the non-major diversifying its book and placing an emphasis on helping customers with commercial property.

“The appetite for commercial property is definitely growing, and we see a huge opportunity not only for our business, but for investors and for brokers, [by] diversifying risk and sustainably building business,” he said.

ING Direct’s overall mortgage volumes grew by 2.6 per cent to $39.8 billion in the 2015 calendar year, with its branded mortgage volumes experiencing a 10.8 per cent increase.

Advertisement
Advertisement

Mr Woolnough said much of the mortgage growth was due to the non-major’s broker network.

“Mortgage brokers are absolutely critical to our business, responsible for nine out of every 10 ING Direct mortgages,” he said.

“We’ve been working with brokers for more than 16 years, and we continue to nurture these relationships with great value-driven products and fair and transparent remuneration.

“I’m confident the broking channel will continue to grow beyond its current 52 per cent market share, as its role in driving consumer choice and value is increasingly recognised across the industry.”

 

PROMOTED CONTENT


 

 

 

ING Direct sees surge in commercial lending
coin stacks
TheAdviser logo

If you have ever considered how you could better service your SME clients but lack the knowledge or confidence to do this beyond referring them on, this is a must-attend event for you. Don't miss SME Broker Bootcamp, a jam-packed, free-to-attend, practical workshop. Register today and secure your place at this interactive, flexible, must-attend event.

coin stacks

 

more from the adviser
Finsure rebrand

Breaking News

Finsure sale clears regulatory approval

APRA has given the green light to BNK offloading its mortgage agg...

house sold

Breaking News

Hot Property: The biggest property headlines from the week 17-21 January

The weekly round-up of the biggest news stories from across Momen...

mortgage growth

Breaking News

AFG broker lodgements hit new record

Brokers aggregating under the group wrote a record $92 billion of...