Major mortgage and wealth planning group, Yellow Brick Road has reported growth of three times the market in the last six months.
The group – which encompasses the YBR franchise, Vow Financial and Resi – reported a 43% lift in loan settlements in the six months to April, compared to the same period a year ago. In comparison, the broader Australian lending industry grew by just 12.5% in the six months to March.
“Our growth is the result of eager borrowing and low interest rates, as well as our swift response to rate drops with our ‘Rate Smasher’ product – one of the most competitive rates on offer,” Yellow
Brick Road’s executive chairman
Mark Bouris said.
“It [‘Rate Smasher’] has been extraordinarily popular with the demographic of borrowers looking for straightforward loans.”
The company has been able to double its settled loan volumes, even at a time when the market is becoming increasingly competitive, says Bouris.
“Four of our last six months have been our best months on record,” he said, referencing the settlements for November, December, January and April which each surpassed $1 billion.
“It’s particularly satisfying to see Vow accelerating its growth since acquisition. And our Yellow Brick
Road branded network is really firing, with a 55% increase in April alone.”
In April, Vow reported 56% growth in settlements for the financial year to date, compared to ABS reported market growth of 15%. Upon this announcement, Bouris claimed that he expects the aggregator will become the country’s third largest within the next six to 12 months.
