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ISCOVER
Staff Reporter
The third party distribution channel will overshadow the mono-line channel in the not-too-distant future, one brokerage head has claimed.
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Speaking at AFG’s NSW and ACT Champion Awards luncheon held in Sydney last week, Oxygen’s general manager James Green said the sooner Australia’s lenders realise the mono-line channel is “dead” and start investing more heavily in the third party distribution channel, the better the industry and the borrower will be.
“The mono-line channel will soon be a thing of the past. In the not-too-distant future, borrowers will only want to use the services of a professional mortgage adviser – I truly believe that,” he said.
Mr Green gave the speech as he collected the AFG Championship trophy on behalf of Oxygen Home Loans.
The trophy is awarded to the brokerage who manages to secure the greatest number of points across a variety of categories including number of loans settled, value of loans settled and settlement growth.
In what was a closely fought battle, Oxygen Home Loans was the eventual winner – beating second place by just a few points.
Speaking about the win, Mr Green said he was humbled and dedicated the award to his “incredible team”.
“Without them, Oxygen would not be able to do what it does every year,” he said.
“The team has worked so hard and that hard work has paid off – as we managed to grow our volumes by 51 per cent over the last financial year.”
