Broker friendly lender sees growth in 2024.

As a mortgage broker, the latest APRA statistics offer fascinating insights into Australia’s evolving lending landscape. The data reveals compelling trends that are reshaping how we connect borrowers with lenders.

The standout performer continues to be Macquarie Bank, whose approach to broker partnerships is yielding remarkable results. Their mortgage book has grown by an impressive 14% year-over-year, reaching $129.73 billion in November 2024. This success isn’t surprising to those of us in the broker community – their commitment to the third-party channel is evident, with over 90% of their home loan originations coming through brokers. Their stellar reputation is well-deserved, earning the highest net promoter score (+78) and broker experience rating (95%) in the latest Agile Market Intelligence’s Broker Pulse survey. The fact that 45% of brokers submitted a loan to Macquarie in November speaks volumes about their standing in our industry.

Looking at the major banks, Commonwealth Bank of Australia (CBA) maintains its position as the nation’s largest lender, growing its loan book by $3.41 billion in November. Their total portfolio now includes $380.72 billion in owner-occupier mortgages and $193.39 billion in investment loans. While CBA has been focusing more on their proprietary channel, they remain a significant player in the broker space.

The other major banks showed more modest but steady growth. ANZ increased its mortgage portfolio by 0.46% to $307.24 billion, with owner-occupier loans at $204.93 billion and investment loans at $102.31 billion. NAB saw a 0.43% rise to $323.99 billion ($214.68 billion in owner-occupier and $109.32 billion in investment loans), while Westpac grew by 0.42% to reach $479.60 billion ($318.29 billion owner-occupier, $161.31 billion investment).

What’s particularly encouraging for brokers is the growing strength of non-major lenders. The next tier of lenders shows impressive market presence:

Bank of Queensland with $57.9 billion

Norfina Limited (formerly Suncorp Bank) at $54.7 billion

Bendigo and Adelaide Bank reaching $62.9 billion

ING Australia holding $62.3 billion

HSBC Bank Australia maintaining $31.8 billion

Several non-majors demonstrated notable monthly growth in November 2024. Qudos Bank increased its mortgage book by 1.08% to $4.49 billion, while Bendigo and Adelaide Bank grew by 1% to $62.9 billion. ING Australia also showed strong performance with a 0.70% monthly increase to $62.3 billion. Even smaller players like Laboratories Credit Union Limited achieved remarkable growth, expanding their book by 5% (though from a smaller base of $213 million to $225 million).

The overall market continues to expand, with total outstanding home loans across all banks growing by $10 billion to reach $2.26 trillion in November 2024. This represents a healthy 5.1% annual increase from the previous year’s $2.15 billion.

From a broker’s perspective, this diverse and competitive lending landscape offers significant advantages for our clients. The strong performance of both major and non-major lenders means we can offer a wider range of lending solutions tailored to individual client needs. The continued growth of broker-friendly lenders like Macquarie, combined with the steady presence of the majors and the increasing competitiveness of non-major lenders, ensures we can provide our clients with comprehensive options across the market.

Macquarie’s success in particular demonstrates the value of maintaining strong relationships with the broker channel. Their commitment to fast turnaround times and consistent decision-making has clearly resonated with both brokers and borrowers, setting a benchmark for service excellence in our industry. As brokers, we’re well-positioned to continue playing a crucial role in Australia’s mortgage market, helping customers navigate their options across an increasingly diverse lending landscape.