ASX-listed mortgage giant on growth path

Broking firm Mortgage Choice has opened four new offices in Victoria in one week, as it continues to “aggressively” grow its footprint in Australia.

The new Mortgage Choice franchises are located in Mentone, Pakenham, Sale and Beaumaris.

Commenting on the development, Mortgage Choice chief executive officer John Flavell explained that the ASX-listed company has been focused on strengthening its brand through additional branded retail shopfronts, as well as local and national advertising.

He elaborated that opening four new offices in Victoria was a “logical decision” 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 per cent to $610,000 in the 12 months to February,” he said.

Mr Flavell added that the “buoyant” market conditions in Victoria show that there are many business opportunities for Mortgage Choice’s brokers, and 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 explained.

“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.”

[Related: A quarter of Australians worry about money daily]

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