A new player in the Australian mortgage market has announced plans to double its Sydney office to 40 brokers following a strong first year.
In its second year of trading, Shore Financial has lodged more than $1 billion in mortgage sales and has revealed plans to expand its Sydney team size from 20 to 40 brokers.
The Sydney firm was founded in February 2013 by directors Alex Nochar and Theo Chambers.
“We will expand the Shore Financial team to 40 young brokers by July this year,” Mr Chambers said.
Mr Chambers won the Editor’s Choice award at the NSW Better Business Awards last year and was a finalist in the Rising Star and Best Newcomer categories.
Shore Financial lodged $1,040,145,596 of loans during the firm's first year of trading and is forecast to lodge $1.5 billion in 2015.
The firm has grown during the past year from three staff to 20, largely due to a 15-year contract with Richardson & Wrench Real Estate to be their exclusive mortgage brokerage.
“We are growing so fast we had to ask our next door office neighbours if they would mind relocating so we could buy their office in order to expand our office size,” Mr Chambers said.
The average age of a broker at Shore Financial is 26 years old.
“Shore Financial prefers to recruit young novices because they are hungrier and more open-minded than existing brokers,” Mr Chambers said.
“Shore Financial’s growth will come from increasing broker numbers and supporting the brokers to maximise their efficiency,” he added.
In 2014, Shore Financial also opened an office in Melbourne with the success of exclusively securing a second real estate partner, Fletchers Real Estate, and looks forward to entering into a third real estate partnership and opening a Brisbane office soon.