The Commonwealth Bank is looking to increase its home loan staff as borrower activity soars.
Michael Cant, CBA head of retail products, told The Daily Telegraph, first home buyer volumes had more than doubled since the inception of the beefed-up grants in October while aggregate mortgage volumes were up 40 per cent since the middle of February.
This high demand has seen application processing times slip to up to 20 days, the daily reported.
Lender servicing times have been the subject of broker frustration for several months with ANZ and Westpac previously singled out as exceptionally slow on turnaround times.
“We’ve had to put on more staff and we’ve been looking to increase staffing levels through temps and contractors,” Mr Cant said.
“On the whole I think we have been coping well for the volumes that are coming in,” he said.