Australia’s largest independently owned mortgage broker, Mortgage Choice, has bucked broader industry trends in March as it reached its highest value of home loan approvals since October 2009.

Announcing the milestone at this week’s executive meeting, CEO Michael Russell said while housing credit growth has clearly slowed in recent times, professional mortgage brokers should not be overwhelmed.

“Home loan volumes are down industry wide but what we are seeing is more consumers looking to reputable brokers to help them navigate an increasingly competitive mortgage market. This spells opportunity,” he said.

“Mortgage Choice is making ground. I am delighted our March unconditional approvals reached $943 million and represented our best month since October 2009, which saw high demand due to the FHOG boost. We are also thrilled to see our home loan market share hit a two-year high.

Mr Russell said the present bank wars have heightened lender re-engagement, and that banks are competing hard for this business. But he said the company is determined to build on this latest “terrific” result.

More from IBT Real Estate:
Newsletter: To receive real estate update, sign up here