NEWS
A G G R E G AT O R S MONEYQUEST REACHES 100 FRANCHISES
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has announced its 100th franchise owner in Australia, capping a meteoric rise since launching as a mortgage broker franchise in 2016. The aggregator boasts one of the fastest-growing networks in Australia, with $400m in submissions per month. “We’re extremely proud,” said MoneyQuest managing director Michael Russell. He was also thrilled that MoneyQuest had been successful in recruiting financially astute former bankers and lenders and standalone mortgage brokers – they now make up 75% of current franchise owners. MONEYQUEST
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N AFG BREAKS ANOTHER LOAN LODGEMENT RECORD has announced another successful quarter for home loan applications, with lodgements breaking its previous record with a substantial annual gain of 34.32%. AFG brokers lodged $20.6bn in home loan applications over the third quarter of FY21. “Record-low interest rates, effective government stimulus packages and an improving consumer outlook have contributed to increased activity,” said CEO David Bailey. AFG brokers reported the highest gain in lodgements in NSW, where home loan applications grew by 40% annually.
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N James Symond, CEO, Aussie Home Loans
JAMES SYMOND TO LEAVE BEHIND AUSSIE CEO ROLE After six years leading Aussie Home Loans, James Symond is to step down from his role as CEO of the national broker franchise network and aggregator of the biggest names in Australian mortgage broking, James Symond will quit his position at the end of the year. Symond will leave after overseeing the upcoming merger of Aussie and fintech lender Lendi. His departure will bring to an end 30 years of service to the company, which was previously run by his uncle, founder John Symond, until he handed the reins to James. Aussie has grown massively, including stores, brokers and loans, under James Symond’s leadership. The network wrote ONE
“Aussie and the industry has been my commercial life since I was 19, and I’m incredibly proud of the legacy that John and I created” James Symond CEO, Aussie Home Loans
Commercial Loans
a record $3bn in loan lodgements last month. “Aussie and the industry has been my commercial life since I was 19, and I’m incredibly proud of the legacy that John and I created,” said Symond. “From humble beginnings Aussie has come a long way, from revolutionising and bringing healthy competition to the Australian home lending industry to where we are today with the largest retail footprint of any mortgage broker brand in Australia. “Aussie now has a national distribution network with over 220 stores, over 1,000 brokers and 300 team members, who are part of the family-style culture John and I
N successfully built over three decades.” Highlights of Symond’s tenure include the acquisition of Wizard, and Aussie’s sale to Commonwealth Bank. Launched in 1992, Aussie was a pioneer in giving consumers an alternative to the major banks. Symond started his career at Aussie at the age of just 19 and held a number of leadership roles, culminating in his appointment as CEO in 2015. An energetic and dedicated leader, Symond steered Aussie through significant challenges, including the Hayne royal commission, bushfires and COVID-19. He has also been a strong advocate for mortgage brokers. “I’ve always been proud of the broking industry and Aussie’s role in advocating for customers. Now, with over 60% of home loans in Australia provided by brokers, the industry is at an exciting new stage of growth, and technology will play a major part in this,” he said.
1st mortgage, 2nd mortgage and caveat loans
All states and territories, including regional & rural areas
$10,000 – $2,000,000
Real estate security required
1 month – 60 month Terms
Broker commissions paid at settlement
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