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The aggregator’s brokers wrote record-breaking volumes in 2024, surpassing $100 billion in settlements.
Major aggregator Connective has released its figures for the calendar year ending 31 December 2024, revealing that its brokers settled $104.8 billion in commercial, asset finance and residential loans last year.
This figure represented a 10.5 per cent increase on 2023 figures, when the group’s brokers settled $94.8 billion.
In the mortgages space, Connective brokers reported $87 billion in residential settlements and $126 billion in applications.
However, the commercial segment saw the highest rate of growth, with Connective brokers settling $13.8 billion in commercial loans, a 26.3 per cent increase from the result reported for the previous financial year ($10.9 billion).
Glenn Lees, Connective CEO, attributed the results to greater broker participation in the commercial space, as well as the aggregator’s efforts to expand its lender panel and white label offerings.
“More brokers are expanding into commercial lending, recognising opportunities in private lending, non-bank solutions, and structured funding options,” Lees said.
“We continue to invest in technology, lender relationships, and broker support to help them navigate this evolving market.”
Conversely, the aggregator saw a 1.32 per cent dip in asset finance settlements to $3.9 billion, compared to $3.95 billion in 2023.
Lees acknowledged the period was a “challenging” time in asset finance, citing the removal of the $150,000 instant asset write-off, as well as high interest rates impacting spending and consumer confidence.
Despite this, the aggregator’s CEO said he had a positive outlook for the segment, noting the addition of three new lenders to its panel – True Pillars, Grenke and Drive Finance Solutions.
“Despite economic headwinds, asset finance enquiries picked up in late 2024, signalling renewed confidence amongst businesses and consumers. We anticipate stronger demand in 2025, especially if the RBA implements further rate cuts,” Lees said.
“With the federal election approaching, many businesses and individuals are waiting for a clearer economic outlook. Once we move past that, we expect asset finance demand to rebound.”
The aggregator also recently reported a 27 per cent increase in settlements for its white label home loan portfolio, Connective Home Loans, and a new partnership with technology provider NextGen.
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