by Lisa Montgomery 18/01/2006

Resi’s Expanding Business Defies Market Trend

Competitive non-bank lender Resi Mortgage Corporation is going against the market trend by enjoying solid business growth and expanding into a number of key regional and suburban locations.

Despite the dampening effect of three Reserve Bank interest rate rises last year and a weak property market in most States, Resi finished 2006 on a high note with the company’s November settlement figures up 18.6% on the previous month and its December figures up a further 3.9%.

“While many other lenders having been feeling the pinch, Resi’s loan figures have been holding up and even increasing – with this month also shaping up to be a good one,” Resi’s Head of Marketing and Consumer Advocacy, Lisa Montgomery, said today.

“In the face of a weakened market we have been pursuing a strong growth strategy which has included new marketing campaigns, competitive product development and an expansion of our franchise network into some key regional and suburban locations.

“Our business has also been growing dramatically in Western Australia, aided by the far stronger market in that State. While some commentators have been suggesting that the Perth market is tapering off, our experience has been the opposite.”

Ms Montgomery said that Resi rolled out a string of new franchises in the second half of 2006 in locations such as the Hunter Valley, Coffs Harbour, the Gold Coast North, Midland (WA) and Frankston/Cranbourne (Vic).

“More new Resi franchises are scheduled to open in the next few months in places such as Mackay, the Sunshine Coast, Launceston and Hurstville, with other new franchises in the wings for Brisbane, Western Australia, South Australia and Victoria.

“Our aim is to continue to grow and expand our presence so that our products and services are more easily accessible to a far greater part of the Australian community. If we can do this even when the market is poor, we will be well-positioned to ride the crest of the wave when the market improves.”