March 30, 2017
Mortgage Choice continues to aggressively grow its footprint in Australia, with the business opening four new shopfronts in Victoria in the last week alone.
The new franchises are located in Mentone, Pakenham, Sale, and Beaumaris.
“Mortgage Choice turns 25 this year, and opening four new Mortgage Choice offices in a week is a strong indication of where our company is positioned and where it is headed,” Mortgage Choice chief executive officer John Flavell said.
“This continued growth in our retail footprint demonstrates the strength of the business model and highlights the attractiveness of Mortgage Choice's proposition.
“Looking ahead, we have ambitious growth goals and are keen to significantly increase our national footprint.
“That said, we're not prepared to grow for growth's sake. We are focused on strengthening and maintaining the high quality of the Mortgage Choice brand by attracting a high calibre of mortgage brokers and financial advisers.
“Our latest retail shopfront owners are among the best in the industry, boasting more than 80 years financial services experience between them.
“They are driven, determined and passionate mortgage brokers who are keen to help Australians make better choices for a better life.”
Mr Flavell said the ASX-listed company was focused on further strengthening the brand through greater branded retail shopfronts, as well as local and national advertising.
“At Mortgage Choice, we are focused on enhancing our brand and solidifying our reputation as Australia's leading provider of mortgage and financial services,” he said.
“It is for this reason that we have more and more franchises opening in prevalent and highly visible locations in major metropolitan and regional areas.”
Mr Flavell said it was a logical decision to open four new offices in Victoria as the property market was performing strongly in that area.
“Victoria's housing market is currently performing very strongly, with data from CoreLogic showing property prices soared 13.1% to $610,000 in the 12 months to February,” he said.
“The buoyant market conditions in Victoria makes it clear that there are a lot of business opportunities for our brokers.
“Moreover, we know there is strong consumer demand for the services of a mortgage professional.
“According to the latest data from the Mortgage and Finance Association of Australia, mortgage brokers wrote 51.9% of all new residential home loans in the December 2016 quarter.”
Mr Flavell said he wouldn't be surprised to see broker market share continue to grow over the coming months and years.
“Over the last few months, many of Australia's banks have made a series of changes to their investment and owner-occupied lending policies. These changes have made the mortgage market more complex than ever before,” he said.
“Mortgage brokers can help consumers navigate the maze that is the mortgage market. In addition, with access to hundreds of home loan products, mortgage brokers have the ability to find borrowers the right home loan for their individual circumstances.
“At Mortgage Choice, we have enjoyed an excellent start to the year and we look forward to helping even more Australians with their property and finance needs.
“We have a lot of momentum behind us at the moment and we will use that to drive the business forward.”
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