Who is... Mortgage Choice

Most people spend more time researching the home they plan to buy than the loan they need to pay it off, and yet the choice of loan and provider can have a tremendous impact on your future wellbeing. You’ve heard the name, but can they help? Here’s the dish on Mortgage Choice.

Mortgage Choice brand themselves as Australia's leading home loan provider. The company was founded in 1992 by Rod and Peter Higgins as a nationwide mortgage brokerage, and was listed on the Australian Stock Exchange in 2004 under “MOC”. At the time, it had a loan book of more than $27.7 billion. Currently, it is the only “pure play” (specialist) mortgage broker listed on the ASX.

At the end of 2006 Mortgage Choice had 436 franchises across Australia, as well as 628 loan consultants and in every state. As of April 2007 a panel of 29 different lenders was established with the broking firm.

Mortgage Choice products and services

The group's main activity is providing mortgage broking. This involves determining the borrowing capacities of residential mortgage borrowers, and the assessment, at request, of a wide range of home loan products, as well as the submission and approval of loan applications on behalf of intending borrowers. They provide services for first home buyers, investors and those interested in refinancing.

One benefit to customers that the company prides itself on is the fact that consultants are paid the same amount regardless of the size of the loan provided, and also that the company does not provide their own home loans. These two factors are seen as key to ensuring unbiased advice and the best outcomes for customers. At the time of writing, Mortgage Choice had a range of more than 370 different home loan products being brokered by staff. In addition, free advice for potential borrowers is available online through the website and also via the customer service call centre.

Mortgage Choice has received a number of accolades in recent years. The company won the 2006 Mortgage Industry Association of Australia “Retail Mortgage Broker of the Year” Award, the 2005 & 2004 Australian Banking and Finance Magazine “Best Mortgage Broker”Award, and the 2005 Australian Mortgage Award “Best Branding” and “Most Effective Internet Presence” awards.