Yellow Brick Road (YBR) has grown at three times the rate of the Australian lending industry in the past six months.
The group, which encompasses Vow Financial and Resi, achieved a 43 per cent increase in loan settlements for the six months to April compared with the same period one year ago.
YBR executive chairman Mark Bouris said the group’s growth is a result of eager borrowing and low interest rates, as well as its “swift” response to rate drops with its Rate Smasher product.
“[Rate Smasher] has been extraordinarily popular with the demographic of borrowers looking for straightforward loans,” he said.
Mr Bouris said the company’s growth has come at a time when use of the broker channel is experiencing greater popularity with consumers.
“Four of our last six months have been our best months on record,” he said, referring to the settlements for November, December, January and April, which each surpassed $1 billion.
“It’s particularly satisfying to see Vow accelerating its growth since acquisition. And our Yellow Brick Road-branded network is really firing, with a 55 per cent increase in April alone,” Mr Bouris said.