Home Loans: Mortgage Choice is Australia’s leading mortgage & Home Loan broker, comparing over 400 home loans and mortgages to help people find the home loan that suits their needs.
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Mortgage Choice – Home loans & mortgage broking services
Helping Australians to attain home ownership since 1992, Mortgage Choice is Australia’s largest independently-owned mortgage broker that provides mortgage broking services to first homebuyers, upgraders, people looking to refinance and property investors.
With more than 20 lenders on their panel and access to hundreds of different home loan products from a wide range of lenders such as banks, building societies, credit unions and specialist home loan lenders, Mortgage Choice underwrites almost 1 in every 20 home loans underwritten in Australia. Up to December last year, Mortgage Choice has a loan book with a size of over $40 billion.
The seed for Mortgage Choice was established in the minds of its founders; brothers Rod and Peter Higgins. They had a vision of building a national network of ethical, credible and professional mortgage brokers who do not play ‘favourites’ and who can gather the trust and respect of the local communities they operate in.
Today, this ‘no favourites’ approach is reflected in the way they operate. The franchisees are paid the same commission rates for every home loan that they write, regardless of the lender and the product that the customers go with. This ensures that every broker works in the customers’ best interest, by empowering and educating them about the mortgage process, and guiding them through the home loan application process. Mortgage Choice broker understands the unique situation that each individual is in, and therefore tailors each loan to suit the individual’s unique circumstances.
In a practical sense, this is translated to the fact that every broker uses Loan Qualifier Software; a proprietary system that objectively evaluates the lending criteria of a wide range of lenders depending on the customers’ individual circumstances. This software also enables customers to evaluate ‘what if’ scenarios, such as: What if you had a larger deposit? What if you paid off your credit card? With this, the customer can quickly see what steps need to be taken to increase his borrowing power. This immediately opens up a range of new possibilities. Aside from this, the software also evaluates the rates, fees and features in the loan product that may be important to the customer. Some customers might want the feature that allows them to make extra repayments, while others want the ability to access the funds through internet banking.
This unique approach and philosophy has seen Mortgage Choice win numerous accolades and industry awards over the years. Some of the highlights are: named as Retail Aggregator/Originator of the year by Mortgage and Finance Association of Australia (MFAA) in 2005, 2006, 2008, 2009 and 2010; placed number 1 in The Adviser’s magazine Top 25 brokerages list from 2008 to 2010, and named as Best Mortgage Broker in Australian Banking and Finance Awards in 2004, 2005 and 2007. The list goes on.
Mortgage Choice has strived to further improve its reach in the Australian Market. It acquired the Australian mortgage aggregator LoanKit at the end of 2009. In April 2010, Mortgage Choice commenced the official operations of LoanKit as Mortgage Choice’s new aggregation arm. Its second acquisition was in October 2010 through its purchase of HelpMeChoose.com.au: the home loan, health insurance and life insurance comparison website. It is one of the top comparison websites in the financial services industry in Australia.
Since being listed in the Australian Stock Exchange in August 2004, Mortgage Choice’s financial performance has been very strong.
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The review "Mortgage Choice — Your Home Loan Broking Service" was last updated on 17/04/2015.