Despite the shockwaves caused by COVID-19 over almost two years, the mortgage finance industry is one sector of the Australian economy that has not just survived, it has thrived.
Aided by record low interest rates, a desire to buy property fuelled by FOMO (fear of missing out), home renovations, refinances and people moving out of the big cities, mortgage brokers have enjoyed a residential lending boom.
That’s not to say the pandemic hasn’t had a profound effect on the way brokers do business because it has. The brokerages that have embraced technology and new ways of communicating have been able to make the most of a rapidly growing property loan market.
More and more consumers are relying on brokers to help them navigate a vast array of lending options and find the right loan.
Australian Broker recently launched the Fast Brokerage awards, aimed at finding the fastest growing brokerages across the nation.
Our research team asked brokerages to nominate themselves and highlight their achievements, including their revenue and loan settlement growth from FY20 to FY21.
We selected 46 Fast Brokerages winners which had achieved more than 30% combined revenue and settlement growth, with 13 of these named Fast Starters for being three years old or less.
Among the Fast Brokerages winners were Up Loans (Kirsty Dunphey), KRIA Mortgage Managers (Rishi Bhatia); Empower Wealth (Ben Magnus) and Action Finance Mortgage Solutions (Karen Hall) (all pictured above).
To see the full list of winners, read the full special report on the Fast Brokerages and Fast Starters here:
