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Jessica Darnbrough
From February next year, Heritage, which is rebranding as Heritage Bank on December 1, will sell loans through brokers in Western Australia, Tasmania and the Northern Territory.
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The lender has offered mortgage through brokers for many years in NSW, Queensland, Victoria and South Australia.
General manager retail services Paul Francis said both the broker lending expansion and the name change were about positioning Heritage for continued growth.
"Heritage has a fantastic reputation among its member base, thanks to the great range of mortgage products we offer at extremely competitive rates. That's why we have had the highest customer satisfaction rating of any financial institution in Queensland for the last 18 months in a row, according to Roy Morgan Research," he said.
"We are keen to grow our lending and improving our geographic reach through our broker channels will do that."
Mr Francis said there had been significant demand from WA, Tasmania and NT from brokers and customers looking to take out a loan through Heritage.
Extra staff will be brought on board to help Heritage manage that expansion.
Mr Francis said Heritage continued to place high importance on the broker channel.
"The high costs of funding during the GFC meant that a number of financial institutions abandoned the broker network," he said.
"We faced the same situation, but Heritage decided to scale back rather than pull out entirely, because we recognised the importance of maintaining our broker relationships.
"We subsequently ramped up our broker channel offerings as soon as we could after the GFC, and we are now expanding our reach across the country.
"Heritage has stuck in there for the long haul and we look forward to continued escalation of our lending through the broker network."
