Mortgage Choice Limited, commonly known as Mortgage Choice, is an Australian mortgage broking firm.
 | |
| ASX: REA | |
| Founded | 1992 |
| Founder | Rodney Higgins & Peter Higgins |
| Fate | Acquired by REA Group |
| Headquarters | , |
Area served | Australia |
Key people | Vicki Allan (Chairman) Anthony Waldron (CEO) |
| Services | Mortgage broking |
| Website | www.mortgagechoice.com.au |
Mortgage Choice is a current member of the Franchise Council of Australia[1] as well as the Mortgage & Finance Association of Australia;[2] and holds a credit licence (number 382869) issued by ASIC.[3]
Mortgage Choice was listed on the Australian Securities Exchange until it was acquired by REA Group in 2021.[4]
History
The company was founded in 1992 in Sydney by Rod Higgins and Peter Higgins.[5] 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.[6] 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;[7] and launched its first white label product bluegum™ home loans.[8]
In 2012, Mortgage Choice launched Mortgage Choice Financial Planning.[9]
In 2016, Mortgage Choice expanded its product offering by launching a branded asset finance offering.[10]
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.[11]
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+.[12]
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.[13]
The head office is in Sydney, with state offices in Brisbane, Melbourne, Adelaide and Perth.