Tuesday 18 Oct 2011
Oxygen Home Loans has been named Australian Brokerage of the Year at the 10th Annual Australian Mortgage Awards held on Friday night at Sydney Town Hall.
Oxygen Home Loans wrote $362 million in home loans for the financial year ending
June 30, 2011. The result represents a 65 per cent year on year increase, achieved during a period in which there was a significant property market downturn. It includes a record 1,270 lodgments totaling $691 million from 24 brokers.
James Green, General Manager of Oxygen, a fully owned subsidiary of McGrath Limited, said that the expansion of McGrath Estate Agents enabled him to grow the business and assemble a great team of brokers.
“The culture of McGrath drives us to give 6 star service and it is that dedication by our brokers that have translated into increased market share and high conversion of loan applications.”
Mr Green said despite softening across most markets, Oxygen continued to write a record number of home loans, recording its highest ever lodgments in the first quarter of FY12, up 43% on the corresponding period of FY11.
McGrath Chief Executive John McGrath said demand for Oxygen Home Loans, had become extremely popular with clients wanting to transact property.
“Our home loan brokerage business is of vital importance as part of our service offering. Ensuring that our Customers obtain the best loan possible in a timely, no fuss manner is key. So for Oxygen to have been awarded Australia’s best mortgage broker is one of our proudest moments. I believe if you have a full-service offering it must be the best and this indicated to me that we were on track to deliver our Customers the very best in home loans.”
Mr. McGrath adds, “It makes buying a home that little bit easier when your broker understands real estate and the speed at which financial decisions sometimes need to be made.”
The black tie event was attended by over 700 representatives from the banking and finance industry. The Australian Brokerage of the Year Award, sponsored by NAB, is one of the highest accolades offered to a brokerage business in the mortgage industry. The key criteria for judging the award centred around the overall business perspective of the 33 finalists, and included loan volumes, conversion rates, customer service and strategy around stakeholder engagement.
Mr Green said Oxygen was continuing to expand along with the continued roll-out of the McGrath franchise offering and anticipated recruiting an additional 10 brokers during the FY12 financial year, growing the team to 34 brokers.