Mortgage Choice takes loan book to $47 billion

Jonathan Chancellor

| Aug 22,2014

| 0 min read

Mortgage broker Mortgage Choice has notched up a full-year net profit rise of 6% to $19.85 million.

The cash profit jumped 19% to $18.7 million.

The business wrote $12.2 billion in loan approvals, which is almost 20% higher on the prior year.

Its loan book rose to $47.4 billion.

Its network of mortgage brokers expanded, hitting 405 franchises and 549 loan writers.

Chief executive Michael Russell says it was the best result so far for the company.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.