Broker-led distribution strategy paying off for fifth-largest home lender
Macquarie Bank’s head of broker sales Wendy Brown (pictured) has attributed the bank’s stellar mortgage book growth to its broker-led distribution strategy.
“Our strategy has been clear and consistent over many years. The broker channel has been and continues to be fundamental in enabling us to prudently grow our home loans business to where it is today, with brokers accounting for more than 95% of our home loan originations,” said Brown following today’s half-year results.
Macquarie reported a 13% surge in its home loan portfolio to $160.3 billion for six months ending 30 September, far outpacing system growth and reinforcing its growing influence in the Australian mortgage market.
The group now represents approximately 6.5% of the national mortgage market, up from 5.7% in the prior six months.
“Our continued growth is the result of our strong focus on delivering a highly competitive and industry-leading experience for brokers and customers,” added Brown.
“We hear from brokers a lot that they enjoy the certainty and confidence that comes with consistently quick responses. It’s one of the reasons we have invested so much in our technology systems, so that we can offer market leading turnaround times.
“We’ve always been very vocal about the fundamental role that brokers play in guiding Australian home buyers through what can sometimes be a complicated lending process. It’s clear that Australians agree with this sentiment with the latest MFAA data showing a new record of over 76% of all new residential home loans settled by mortgage brokers and over $99b in new residential home loans settled by mortgage brokers.”
