A mortgage broker group has announced a record financial year and plans to boost its presence in one area in particular.
Aussie Home Loans saw its market share in Queensland grow year-on-year in its FY18 financial results, settling a total of $3.6billion.
It was announced in June that Commonwealth Bank of Australia (CBA) would demerge with the brokerage and its wealth management businesses.
Despite concerns over what this would mean for the group, chief executive of Aussie, James Symond, said they have been “building momentum in Queensland especially with first home buyers and upgraders”.
He said, “In a shifting market savvy borrowers are looking for expert guidance on their home loans, and we’re seeing that come through in a nice uplift in market share.
“Our growth plans are off to a solid start and we have already opened two new stores in FY19 in Burpengary and Clifford Gardens.
“We have another new store opening soon in Flagstone, which is an especially exciting opportunity where we will be piloting a new form of market representation to capture the rapid residential and commercial growth in the area.”
Aussie Flagstone will initially open in a display village and will relocate to a retail premises once the commercial infrastructure in the area is developed, and a retail site becomes available.
Queensland’s strong performance was part of Aussie’s record national result for the 2018 financial year.
It saw Aussie’s more than 1,000 mortgage brokers settle a monthly average of over $1.5billion.
The year also saw Aussie’s highest settlement year ever worth in excess of $18billion and multiple record months in its franchise channel.
As part of its expansion, Aussie has a range of metro and regional franchise territories now available across Queensland, and is also recruiting mortgage brokers for its mobile channel.
