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ING Direct has increased its commercial portfolio by more than 17 per cent in a year.
Mark Woolnough, head of third-party distribution at ING Direct, said the achievement is a result of the non-major diversifying its book and placing an emphasis on helping customers with commercial property.
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“The appetite for commercial property is definitely growing, and we see a huge opportunity not only for our business, but for investors and for brokers, [by] diversifying risk and sustainably building business,” he said.
ING Direct’s overall mortgage volumes grew by 2.6 per cent to $39.8 billion in the 2015 calendar year, with its branded mortgage volumes experiencing a 10.8 per cent increase.
Mr Woolnough said much of the mortgage growth was due to the non-major’s broker network.
“Mortgage brokers are absolutely critical to our business, responsible for nine out of every 10 ING Direct mortgages,” he said.
“We’ve been working with brokers for more than 16 years, and we continue to nurture these relationships with great value-driven products and fair and transparent remuneration.
“I’m confident the broking channel will continue to grow beyond its current 52 per cent market share, as its role in driving consumer choice and value is increasingly recognised across the industry.”
