For the first time since January 2009, mortgage brokering firm Mortgage Choice has more than 400 franchises. 

There are a total of 405 Mortgage Choice offices in operation across the country at present, which CEO Michael Russell said is “a real milestone” for the network.

When the firm revealed its half-yearly results in February, Russell told The Adviser the company expects to grow its network from 394 to 450 “within the next couple of years.”

“The property market is strong, interest rates continue to hover around record lows, lenders are competing aggressively for business and we are expanding our mortgage broking network at a cracking pace,” he said.

The company is also looking to employ another 100 loan consultants by the end of the year, and in January it launched Plus One, an incentive scheme designed to encourage franchisees to recruit new brokers. 

Russell said the Mortgage Choice is more productive as a result of the expansion. 

“The fact that we have grown our loan writer and franchise network so considerably over the last six months is not only a testament to the Mortgage Choice network, but just goes to prove that with broker usage now over 50 percent, today is a great time to be a mortgage broker,” he explained.