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Date Published : Friday, February 29, 2008
Mortgage Choice is now one of Australia's most prominent companies in the home loans sector. However, it is a relative newcomer to the market and has worked its way to the top very rapidly.
Formed in 1992 in Sydney, Mortgage Choice was the brainchild of brothers Rod and Peter Higgins, who aimed to offer Australian homeowners something different to the offerings of the major banks and financial institutions around at that time.
Since then, it has grown to have more than 200,000 customers across the nation and is now the only purely specialist mortgage broker to be listed on the Australian Stock Exchange ASX.
Mortgage Choice offers a range of home loans to suit all credit rating and also has a flexible payment scheme for mortgage holders.
A statement on its website reads: "The most important thing to remember about Mortgage Choice is that it does not sell its own home loan products, and loan consultants are paid exactly the same commission regardless of the lender or product the borrower chooses.
"These are some key differences that set Mortgage Choice apart from its competitors within the Australian broker market, which continues to grow in size and complexity."
Last year, Mortgage Choice avoided the fallout from the global credit crunch by posting a five per cent rise in profits for the six months to December 2007. During that period, the company generated $5.9 billion in home loan approvals, the ABC reported.
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