Mortgage Choice

History

The company was founded in 1992 in Sydney by Rod Higgins and Peter Higgins. 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. This re-launched in 2010 as the company's aggregation arm.

In 2010, Mortgage Choice acquired Australian home loan and insurance comparison website HelpMeChoose.com.au; and launched its first white label product bluegum™ home loans.

In 2012, Mortgage Choice launched Mortgage Choice Financial Planning.

In 2016, Mortgage Choice expanded its product offering by launching a branded asset finance offering.

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.

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+.

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.

The head office is in Sydney, with state offices in Brisbane, Melbourne, Adelaide and Perth.

References

References

1. "Current FCA Members". [[Franchise Council Australia]].
2. "Find An MFAA Member". [[MFAA]].
3. "ASIC Connect".
4. (May 27, 2021). "REA Group-Mortgage Choice acquisition gets approved". The Adviser.
5. "Mortgage Choice About Us". Mortgage Choice.
6. "Mortgage Choice acquires Loankit". [[Business Spectator]].
7. "Mortgage Choice acquires HelpChooseMe". [[Smart Company]].
8. "Mortgage Choice launches bluegum home loans". [[Predictive Text]].
9. (28 October 2015). "Mortgage Choice ready with financial planning offer".
10. AB. "Franchise launches branded asset finance arm".
11. Ferguson, Clancy Yeates, Adele. (2018-07-12). "Mortgage Choice profit to take a hit as it overhauls franchisee pay model".
12. Mortgage Choice. "REA Group completes acquisition of Mortgage Choice Limited".
13. "About Mortgage Choice". Mortgage Choice.