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Mortgage Choice has expanded its franchise network to pre-GFC levels and set its sights on record settlement numbers.
The group announced that it now had 405 mortgage broking franchises – the first time since January 2009 that it has had more than 400 offices.
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Mortgage Choice had 394 franchises when it reported its half-yearly results and revealed then that it hoped to reach 450 “within the next couple of years”.
Chief executive officer Michael Russell said Mortgage Choice was hopeful of recording its biggest settlement numbers in 2014.
“The property market is strong, interest rates continue to hover around record lows, lenders are competing aggressively for business and we are expanding our mortgage broking network at a cracking pace,” he said.
Mr Russell told The Adviser last month that Mortgage Choice was on track to grow its broker numbers by 20 per cent this year.
He said the group had started the year with 504 loan writers and wanted to add another 100 by the end of 2014.
Mr Russell said Mortgage Choice’s expansion push had also made the group more productive.
“The fact that we have grown our loan writer and franchise network so considerably over the last six months is not only a testament to the Mortgage Choice network, but just goes to prove that with broker usage now over 50 per cent, today is a great time to be a mortgage broker,” he said.
[Related: Mortgage Choice makes Top 25 Brokerages list]
