Connective has reported a record year for its broker network, underscoring how quickly activity can rebound when mortgage rates ease and confidence improves.
Gross total settlements reached $135.47 billion in 2025, up 29.3% on 2024. The final quarter was the standout, with December volumes alone nearing $14.1 billion.
Connective CEO Glenn Lees (pictured) said the 2025 performance shows the “strength, adaptability and expanding capability of Connective brokers” in a more favourable rate environment.
“The defining theme of this result is the scale of growth,” Lees said. “We saw strong performance across every lending segment and at meaningful scale, with settlements up nearly 30% on last year – a big jump that demonstrates the impact and value of our brokers.”
Alongside the core aggregation business, the group’s white‑label arm also had a record year, with gross white‑label settlements rising 20% to $6.01 billion and applications climbing nearly 30% to $9.02 billion.
Residential-only settlements climbed to $112.4 billion in 2025, up 29% year-on-year, with home loan applications rising 30% to $164.4 billion.
Connective links the surge to three Reserve Bank rate cuts, the introduction of the First Home Buyers Scheme, and a stabilising cash rate by year-end – a combination that boosted borrowing capacity and encouraged buyers back into the market.
December was the strongest month for residential settlements at around $11.7 billion, as borrowers rushed to secure tailored deals while conditions remained supportive.
Commercial finance was another major growth engine, with settlements lifting 37% to $18.9 billion. Connective attributes the momentum to more residential brokers diversifying into SME lending, former commercial bankers joining the network, and a broader mix of bank, non-bank, and private capital options.
Asset finance settlements rose to $4.2 billion, up about 8% year-on-year, supported by a 15% increase in asset‑finance‑only brokers and lower interest rates earlier in 2025.
Connective also expanded its own headcount to 190, including additional broker support team members, to help brokers deliver more holistic solutions as they broaden into multiple lending types.
These trends sit within a broader broker‑led shift in distribution, with new industry data showing mortgage brokers now write more than three‑quarters of all new residential home loans.
Get the hottest and freshest property and mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
