Helen Avis completed nearly 50 settlements in July alone
A top mortgage broker settled more than $25 million loans in July, as returning expats and those looking to relocate to lifestyle locations drove record quarterly performance for mortgage brokers in Australia.
Helen Avis (pictured above), director at Specialist Mortgage, completed 49 settlements worth a total of $25.03 million in July. Her total eclipsed the next-highest Australia-based Specialist Finance Group (SFG) broker by more than $5 million, the company said in a news release. SFG aggregates loans for Specialist Mortgage, which operates in Sydney, Melbourne and Perth, as well as overseas locations such as SIngapore, Hong Kong, New York, Dubai and London.
Avis’ July numbers are the latest in a long list of achievements, including winning St George Bank’s Top Flame Broker award in 2013 and 2014, as well as being named SFG’s International Broker of the Year in 2016, 2017, 2018 and 2019.
Avis said that a large share of the July loans were to returning expats. More than 500,000 Australians have returned from abroad since the onset of COVID-19 - that influx a major factor in the spike in housing prices over the past 12 months, Specialist Mortgage said.
“The market is hugely competitive at the moment, and with the appeal of Australia being a safe haven from COVID-19, I’ve seen high demand for family homes being sought in Queensland and New South Wales,” Avis said. “Clients are looking at options for where to stay when they make it out of quarantine, and somewhere comfortable that they’ll be in for the future.”
Among the expats Avis helped secure mortgages was Steward Duncan, who praised her expertise in helping him navigate the complicated process of purchasing a home as an offshore client.
“It was all a bit complex for a layman, but Helen navigated everything on my behalf and explained the pros and cons of different scenarios,” Duncan said. “I felt very comfortable being able to reach out to Helen at any time and get a quick response, especially not being in Australia with time differences and trying to get something in a timely manner. Doing business transactions is completely different to finding a house for the family, and the support from having someone on the ground was immeasurable.”
Another of Avis’ clients, Peter Davis, recently returned to Australia from Singapore. Davis purchased a family home in Sydney and refinanced an investment property.
“We found dealing with Helen and her team a very positive experience,” Davis said. “From quickly ascertaining our requirements and forwarding a number of attractive options from several lenders, we were able to work with Helen quickly from pre-approval to settlement.”
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Avis’ strong July came in an environment of surging demand for housing finance, with the value of new settlements in the second quarter up 47.25% over Q2 of 2020, Specialty Mortgage said. Data released by the Mortgage & Finance Association of Australia showed there was more than $77.75 billion in new lending facilitated by brokers in the three months to the end of June – a $24.95 billion spike from the previous quarter. Second-quarter performance represented the largest observed result for a June quarter, and was $13.65 billion more than the previous record quarter.
“We’re seeing more clients refinancing with these unprecedented low interest rates, and clients wanting to return back to Australia are re-entering the property market to secure a property for their return,” said Steve Douglas, chairman of SMATS Group, the main holding entity of Specialist Mortgage. “Given the relative safety from COVID-19 in Australia, is it any wonder those Aussies living abroad are trying to get back? We’re not surprised, and it’s certainly been keeping us busy.”
Douglas said 2021 has been one of the busiest years he’s seen in his more than 25 years in migration and financial services.
