Mortgage Choice
{{Use dmy dates|date=May 2014}}
{{Use Australian English|date=May 2014}}
{{Infobox company
| name = Mortgage Choice Limited
| logo = Mortgagechoice-logo-rgb-h-stacked-300ppi.png
| caption =
| type =
| traded_as = {{asx|REA}}
| genre =
| fate = Acquired by REA Group
| predecessor =
| successor =
| foundation = 1992
| founder = Rodney Higgins & Peter Higgins
| defunct =
| location_city = Sydney
| location_country = Australia
| location =
| locations =
| area_served = Australia
| key_people = Vicki Allan (Chairman)
Anthony Waldron (CEO)
| industry =
| products =
| services = Mortgage broking
| revenue =
| operating_income =
| net_income =
| aum =
| assets =
| equity =
| owner =
| num_employees =
| parent =
| divisions =
| subsid =
| homepage = [https://www.mortgagechoice.com.au/ www.mortgagechoice.com.au]
| footnotes =
| intl =
}}
Mortgage Choice Limited, commonly known as Mortgage Choice, is an Australian mortgage broking firm.
Mortgage Choice is a current member of the Franchise Council of Australia{{cite web |url=http://www.franchise.org.au/current-fca-members.html#m |title=Current FCA Members |accessdate=2011-07-04 |publisher=Franchise Council Australia}} as well as the Mortgage & Finance Association of Australia;{{cite web |url=http://www.mfaa.com.au/searchformember.asp?menuid=304 |title=Find An MFAA Member |accessdate=2011-07-04 |publisher=MFAA}} and holds a credit licence (number 382869) issued by ASIC.{{Cite web|url=https://connectonline.asic.gov.au/RegistrySearch/faces/landing/ProfessionalRegisters.jspx?_adf.ctrl-state=17l9lj3imk_24|title=ASIC Connect}}
Mortgage Choice was listed on the Australian Securities Exchange until it was acquired by REA Group in 2021.{{cite web |url= https://www.theadviser.com.au/breaking-news/41610-rea-group-mortgage-choice-acquisition-gets-approved |title=REA Group-Mortgage Choice acquisition gets approved |publisher=The Adviser |date=May 27, 2021}}
History
The company was founded in 1992 in Sydney by Rod Higgins and Peter Higgins.{{cite web |url=http://www.mortgagechoice.com.au/about-us/about-the-company.aspx |title=Mortgage Choice About Us |accessdate=2011-07-04 |publisher=Mortgage Choice}} After two years in operation, the company became a franchisor in 1994 by selling its first franchise license in Wollongong. That grew to a national footprint in 1996.
In 1998 Mortgage Choice launched a website and ran its first TV advertisement one year later.
In 2004, the company officially listed on the Australian Stock Exchange.
In 2008, it launched a diversified product offering, commencing with mortgage protection insurance; in 2011 that offering runs across commercial and personal loans, asset finance and risk and general insurances.
In 2009, Mortgage Choice acquired mortgage aggregator LoanKit.{{cite web |url=http://www.businessspectator.com.au/bs.nsf/Article/Mortgage-Choice-acquires-Loankit-XEHSG?OpenDocument |title=Mortgage Choice acquires Loankit |accessdate=2011-07-04 |publisher=Business Spectator}} This re-launched in 2010 as the company's aggregation arm.
In 2010, Mortgage Choice acquired Australian home loan and insurance comparison website [http://www.helpmechoose.com.au/ HelpMeChoose.com.au];{{cite web |url=http://www.smartcompany.com.au/internet/20101018-mortgage-choice-buys-helpmechoose-com-au.html |title=Mortgage Choice acquires HelpChooseMe |accessdate=2011-07-04 |publisher=Smart Company}} and launched its first white label product bluegumâ„¢ home loans.{{cite web |url=http://www.brokernews.com.au/forum/mortgage-choice-reveals-white-label-details/60664 |title=Mortgage Choice launches bluegum home loans |accessdate=2011-07-04 |publisher=Predictive Text}}
In 2012, Mortgage Choice launched Mortgage Choice Financial Planning.{{Cite web|url=http://www.franchisebusiness.com.au/news/mortgage-choice-ready-with-financial-planning-offe|title=Mortgage Choice ready with financial planning offer|website=Franchise Business|date=28 October 2015 |language=en|access-date=2018-04-08}}
In 2016, Mortgage Choice expanded its product offering by launching a branded asset finance offering.{{Cite web|url=https://www.brokernews.com.au/news/breaking-news/franchise-launches-branded-asset-finance-arm-220261.aspx|title=Franchise launches branded asset finance arm|last=AB|website=Australian Broker|access-date=2018-04-08}}
In 2018, Mortgage Choice announced the introduction of a new franchisee remuneration model that would give franchisees a bigger share of trail commissions, via a system in which franchisees can receive commissions based on either their new lending, or existing loans.{{Cite web|url=https://www.smh.com.au/business/banking-and-finance/mortgage-choice-shares-slump-as-it-overhauls-franchisee-pay-model-20180712-p4zqzu.html|title=Mortgage Choice profit to take a hit as it overhauls franchisee pay model|last=Ferguson|first=Clancy Yeates, Adele|date=2018-07-12|website=The Sydney Morning Herald|language=en|access-date=2018-08-28}}
In 2021, Mortgage Choice was acquired by REA Group, amalgamating the lesser-known REA Group-owned Smartline broker franchise into the Mortgage Choice brand. The acquisition increased Mortgage Choice's presence to 940+ brokers & 720+ franchises across Australia, as well as increasing the total lending partners to 40+.{{Cite web|url=https://www.mortgagechoice.com.au/about-us/media-centre/media-releases/rea-group-completes-acquisition-of-mortgage-choice-limited|title=REA Group completes acquisition of Mortgage Choice Limited|last=Mortgage Choice|website=Mortgage Choice|access-date=2021-06-08}}
Operations
In Australia, Mortgage Choice is a national financial services company with a customer base in excess of 350,000 and a residential home loan panel of over 40 lenders.{{cite web|url=https://www.mortgagechoice.com.au/about-us/mortgage-choice-company-profile/|title=About Mortgage Choice|publisher=Mortgage Choice|accessdate=2018-04-08}}
The head office is in Sydney, with state offices in Brisbane, Melbourne, Adelaide and Perth.
References
{{Reflist|2}}
External links
- [https://www.mortgagechoice.com.au/ Mortgage Choice]
{{Banking in Australia}}
Category:1992 establishments in Australia
Category:Australian companies established in 1992
Category:Financial services companies established in 1992
Category:Companies formerly listed on the Australian Securities Exchange
Category:Financial services companies based in Sydney