Who is... Homeloans Ltd

Not sure which institution to approach regarding your home loan? With so many institutions to choose from it might be time to read up a bit first. Here’s the background on Homeloans Limited.

Homeloans Limited was founded in 1985 by Tim Holmes and Rob Salmon, who are still active directors and stakeholders today, under the name International Financing and Investment Pty Ltd (IF&I). Back then, the company originated mortgages for RESI Building Society, which later became The Bank of Melbourne. In late 1993 IF&I formed another alliance, this time with Adelaide Bank. From here, a new brand was developed and WA Home Loans was born.

WA Home Loans experienced great success and led to the company expanding Australia-wide with the development of five similar state-based brands: Homeloans VIC, Homeloans NSW, Homeloans QLD, Homeloans SA and Homeloans Canberra Pty Ltd.

Homeloans renamed

It was renamed Homeloans Ltd in 2001, when it was also listed on the Australian Stock Exchange under six different state brand names. Following this, the company made several acquisitions throughout 2001, including, first of all, the purchase of FAI First Mortgage Pty Ltd, whose loans Homeloans Ltd now manage. Later in the year Access Home Loans was bought and, although the company still trades under its own name, the core business functions and running of the company have been combined with Homeloans Ltd.

Today Homeloans Ltd operates via two sales channels: third party, through broker partners, and direct, where mobile lenders and satellite licensees distribute directly to customers.

Homeloans Ltd products and services

Homeloans Ltd’s principal activity is, as the name might suggest, providing mortgage assistance and management of home loans for individuals and a number of financiers. They provide a range of home loan products, including standard home loans, Lo Doc loans, Lines of Credit and Lo Doc Lines of Credit. Investors are lent to as well, with the option of multiple securities when applying for a loan.

The company has received a number of awards in recent years, including the “Golden Morgie” at the Australian Mortgage Awards 2006 and “Best Non-Bank Lender” in 2004.