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Loan Market posts near-50pc loan growth in June

by Huntley Mitchell5 minute read

Loan Market’s New South Wales team has reported a record-breaking June, with massive growth in home loan approvals and settlements, and 11 brokers achieving ‘personal bests’.

The group’s overall figures for the state showed that lodgements came in at over $327.7 million – nearly 50 per cent up from the $221 million recorded in June 2014.

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Over the same period, approvals were more than $100 million higher at $247.6 million – up from $145 million, and settlements came in at $221.2 million – well up from $130 million a year earlier.

Loan Market’s NSW director, Michael Karpathakis, credited the record-breaking month to the group’s broker business growth strategy.

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“Our strategy for NSW is to build the Loan Market business by ensuring our brokers achieve business growth and reach their own individual goals,” he told The Adviser.

“A key measure on this is for a broker to record a ‘personal best’ and to have over 12 per cent of the state achieve this in one month, is a great accomplishment and one we take pride in.”

Mr Karpathakis said it is Loan Market’s role to arm its brokers with the tools, training and technology to not only run a high-performing business focused on customers’ needs, but to ensure year-on-year growth for their businesses.

"The intent is really about sitting down with them at the start of the year and helping them create a business strategy so they can go out there and achieve their goals," he said.  

“Our results are reflective of the fact that our brokers are able to offer outstanding customer service as they continue to grow their business through careful planning and goal setting."

The 11 brokers who achieved a personal best for June were spread across NSW and the ACT.

One of those brokers is Fiona Bryce, who operates in Sydney's lower north shore.

Aside from the booming Sydney market, Ms Bryce attributes her success to implementing automated systems to take care of administrative tasks, allowing her "more time to complete tasks without having to put more staff on".

"I can click a button and multiple emails get sent to the where they need to go to instantly, which means I've got more time to focus on generating business and writing loans," she told The Adviser.

"I've also got a document collection tool to facilitate requests and the delivery of documents so I don't have to fish around for emails, because at the end of the day, if you're wanting to find that one document that came in an email, you can be rest assured that you've got to go through another 20 of them to find the one you need."

Ms Bryce said being able to answer customers' questions before they ask them is another key factor to her success.

"They're still getting the information – just without having to pop the question," she said. 

[Related: Brokers drive growth for Australia's biggest credit union]

Loan Market posts near-50pc loan growth in June
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