1300 Home Loans: Taking banks head on

Australia’s first mortgage broker-owned home loan brand 1300 Home Loan recently launched on the Sunshine Coast, linking brokers to a 1300 number and their geographic area. 1300 Home Loan managing director John Kolenda said more than 300 brokers attended the introductory roadshows in Sydney, Melbourne, Gold Coast, Brisbane and Sunshine Coast, and more would be held across Australia before their official launch. “We are targeting 400 brokers to have registered with the new brand before we launch nationwide, most likely in the first or second quarter of 2011,” he said. Mr Kolenda said the new company had the potential to enhance the industry and provide more competition. “Consumers have been treated with disdain in the latest round of interest rate movements,” he said. “The best way to improve the situation for consumers is to create a more competitive environment in the financial services area  and 1300 Home Loan will certainly help strengthen and invigorate that market.”