Major mortgage franchise, Mortgage Choice has made the decision to shut down its comparison service, Help Me Choose.
At the franchise’s FY15 financial results presentation, chief executive officer John Flavell
made it clear that Help Me Choose’s financial result needed addressing, so after a comprehensive strategic and operational review, the service has been abandoned.
“The less than favourable financial result of the Help Me Choose business prompted a comprehensive review of the operation and a decision has been made to close it down in its current form,” Flavell said.
“Mortgage Choice will continue to focus on evolving the Mortgage Choice business by building a compelling and differentiated financial services offering and, in turn, providing sustainable earnings for its shareholders.
“Capitalising on the significant opportunities facing Mortgage Choice requires focus, and continuing to invest in a business that is unlikely to be profitable in the foreseeable future does not make sense.”