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ISCOVER
Staff Reporter
Proving the non-bank sector is alive and well, one of Australia’s biggest mortgage managers has recorded significant growth in submissions and settlements.
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Yesterday, Australian First Mortgage announced the number of mortgage submissions had surged by 15 per cent in November when compared with the month before.
Better yet, the number of approvals rose 35 per cent in comparison to the month before, while settlements were up 12 per cent.
According to director Iain Forbes, Queensland was the only state to record a decline in new business submissions, while South Australia enjoyed a 40 per cent increase over the course of the month.
“Considering the high level of formal approvals, we expect both December and January 2013 to settle some healthy volumes for the AFM group as we continue to work even harder to promote the AFM range of products,” Mr Forbes said.
