October 28, 2015
At Mortgage Choice's Annual General Meeting today, the company's chief executive officer John Flavell discussed the company's strong first quarter results.
“We have enjoyed a very solid start to the new financial year,” he said.
“Home loan settlements are up 8% year on year, while cash group revenue is up 10% over the same period of time.
“In addition, financial planning revenue is up 75% year on year and head office generated home loan leads are up 46% on this time last year.
“And while these results are impressive on their own, what makes them even more impressive is the fact that the 2015 financial year was a great year for Mortgage Choice.
“Throughout the 2015 financial year, Mortgage Choice managed to record its strongest ever settlement result – up 10.6% on the previous year.
“In total, $11.5 billion worth of home loans were settled throughout the course of the year, equating to approximately $1 billion a month.
“More than that, we managed to grow our loan book by 4.6% to 49.5 billion. And, in the early part of this financial year, we took our loan book over the $50 billion milestone for the first time ever.
“I am confident that we will not only be able to achieve another strong financial result this year, but achieve another loan book milestone in the not-too-distant future.
“As mentioned, we have already grown our home loan approval and settlement numbers over the first quarter of FY16 in comparison to the previous corresponding period. In fact, July was our second biggest month on record for home loan settlements, which bodes well for the 2016 financial year.”