Aussie to get involved in mortgage market consolidation

Monday 01 February 2010

Article by Mozo

Aussie boss John Symond is hoping to consolidate his firm’s broker supply chain and maintain his company’s position as the leading independent mortgage broker in Australia.

My Symond told the Herald Sun he is keen get a bigger slice of the independent mortgage pie, which accounts for two out of every five home loans sold in the country.

Over the course of the next two years, Aussie is planning to expand its network from 900 nationally-franchised outlets to 1,200, the paper states.

"We are looking at introducing financial planners to the network and eventually we want to become a one-stop shop," he told the news provider.

Adding: "Deposit-taking is part of the agenda."

Recently, Aussie commissioned research into credit card spending during the holiday season in 2009-10 and found that the average Australian racked up more than AUS 1,000 on their cards.

The average consumer now owes AUS 3,200 and Mr Symond believes switching could help those with balances still to settle to reduce their monthly outgoings.

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