Australian Broker has recognised the nation’s fastest-growing mortgage businesses in this year’s Fast Brokerages award.
Now on its third year, the Fast Brokerages 2023, sponsored by non-bank lender Liberty, celebrates 12 brokerages across Australia that achieved 20% growth in combined revenue and settlement volume in the 2021/22 and 2022/23 financial years – which is no mean feat in today’s challenging economic climate.
Of the 12 winners, eight have been in the business for three years or less, earning them the title of Fast Starters.
Among the Fast Brokerages for 2023 is RL Financial Group. Its average loan size decreased by around 10% from the fiscal year ending 2022/23 but it achieved an approximately 25% gain in total settlement value.
Rocky Lim (pictured above left), owner of RL Financial Group, shared one key to the company’s success.
“Just one bank might not cut it,” Lim said. “We offer solutions from 30, 40, or 50 different lenders if it needs to be right and you are not locked into one solution. Versatility is important to all Australians, whether they are upgrading, investing, or refinancing.”
Another Fast Brokerage winner, education-based lending service, 10X Home Lending, settled more than $50 million in loans and achieved a 35% increase year-on-year over the past 18 months.
“I am driven by how many people I am able to help and serve,” said Michael Wu (pictured above second from left), mortgage broker at 10X Home Lending.
Cinch Loans, which was also recognised as a 2023 Fast Brokerage, targets professionals in legal, medical, consulting, and IT, has been nominated for more than 75 different industry awards, including the Bankwest New Brokerage of the Year Award at the 2023 Australian Mortgage Awards.
It has also won multiple Elite Broker awards and CEO’s Choice awards, and the Finance Broker Business Award at the MFAA Victoria and Tasmania State Excellence Awards.
“I am an entrepreneurial, trusted adviser with a strong financial services background who gets his energy from helping people own their homes faster,” said Suvidh Arora (pictured above far right), founder and CEO of Fast Brokerage Cinch Loans.
“We personally know each and every one of our clients and connect with them at a personal level. Nothing can beat the human touch.”
John Mohnacheff (pictured above second from right), group manager of sales at Liberty, said the non-bank takes great pride in sponsoring Australian Broker’s Fast Brokerages 2023 special report.
“The broker channel is at the heart of the Australian mortgage and finance industry and Liberty is proud to acknowledge those contributing to its bright future,” Mohnacheff said.
For the full list of Fast Brokerages 2023 winners, read the special report here.
