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Connective has reported a rise in applications and settlements in its white label lending solutions arm, as well as record broker engagement.
Settlements at Connective Home Loans, the white label home loan portfolio of aggregator Connective, rose by more than one-quarter during the 2024 calendar year as a record proportion of its brokers turned to the mortgage lending brand.
Total applications for Connective Home Loans rose 19 per cent year on year in 2024 to reach $7.4 billion.
In the year, there was a 27 per cent increase in settlements to $4.9 billion and a record 59 per cent of Connective brokers used the white label lending brand, up 7 per cent annually.
Connective attributed the improved engagement to a broad lending portfolio, strong broker support, and quick turnaround times.
The aggregate added that a focus on product education had also contributed to stronger application quality and efficiency, with the application-to-settlement conversion rate increasing to 66 per cent for the year.
Connective Home Loans ended the year with its highest quarter for applications, with $2.07 billion lodged between October and December. The growth reflected heightened demand and broker confidence in the portfolio, Connective said.
Settlements peaked in the July to September quarter, reaching $1.35 billion.
Michael Goerner, head of Connective Home Loans, attributed the growth to expanding the breadth and quality of the portfolio’s offering to meet changing broker and client needs.
“Last year, a big focus for us was ensuring brokers had the right support to better serve their clients and create opportunities for them to grow their business, especially in a challenging market,” he said.
“With nearly 60 per cent of loan deals falling into non-traditional loan types, such as near prime and specialist loans, brokers need access to flexible solutions beyond traditional lending.
“Connective Home Loans is giving brokers just that – solutions that fit almost every customer type efficiently and confidently, and in any situation.”
Speaking on what led to higher applications and better conversion rates, Goerner said: “We’ve made sure our business development manager team and brokers have the knowledge they need to support clients.”
Goerner said that ongoing product diversification had boosted broker engagement.
For instance, in October, Connective Home Loans partnered with non-bank lender Bridgit to roll out a bridging loan solution.
Its product offering also includes Connective Advance, funded by Thinktank, which provides loans for those wishing to purchase or refinance a commercial property or borrow in their self-managed super fund (SMSF).
Briefly outlining future diversification plans, Goerner said: “We continue to evolve our offering, with products like private lending from Connective Advance and Connective Bridge introduced in response to growing demand for bridging loans.”
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