Mortgage Choice loan book hits $49.5 billion

Mortgage Choice loan book hits $49.5 billion
Mortgage Choice loan book hits $49.5 billion

Mortgage Choice's annual results for the financial year ending June 30 showed the company's loan book climbed 4.6% to reach $49.5 billion.

Approvals for home loans increased 10.5% to $13.4 billion, with settlements up 10.6% to $11.5 billion and the company paying a fully franked dividend of 15.5 cents per share.

Mortgage Choice chief executive officer John Flavell said solid growth in loan writer and franchise numbers ultimately helped the core business.

“Throughout the 2015 financial year, we appointed 41 loan writers taking our total loan writer count to 575. In addition, we sold 23 greenfield franchises and 14 existing franchises to reach a franchise footprint of 422,” he said.

"There is still more that we can do to grow the core broking business. Heading into FY16, recruitment will become a focus for the business as the more feet we have on the ground, the better placed we will be to help more Australians make informed financial decisions.

“Looking forward, we have a very positive outlook for FY16. The property market remains strong, with dwelling values on the rise and auction clearance rates continuing to hover at solid levels. Further, the value of the home loan market and the number of home loan approvals being written each month continues to rise, which bodes well for Mortgage Choice’s core broking business."

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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