HSBC bags second broker partnership

by Manuelita Contreras19 Jan 2018
HSBC Australia has joined Mortgage Choice’s panel as its 24th lender in its bid to expand its presence in the mortgage broking space.

The partnership with Mortgage Choice is HSBC’s second since its comeback to the broking business by partnering with Aussie Home Loans last year. The bank stopped offering mortgages to brokers after it sold its broker-originated loan business to Firstmac in 2006.

It continues to look to the market for other opportunities to expand its distribution network, said Alice Del Vecchio, the bank's head of mortgages and third party distribution. 

She said HSBC has received positive feedback from customers and brokers about its products and relationship-managed banking offering since re-entering the broker industry.

On its partnership with Mortgage Choice, the bank believes the broker "has an impressive network with a national presence that will complement HSBC’s existing distribution channels", Del Vecchio said. 

For Mortgage Choice, the decision to work with HSBC came down to the bank's global brand and suite of products as well as its competitive offering, the franchise's general manager of product, Emma Dupont-Brown, told Australian Broker

When asked if Mortgage Choice is looking to add more lenders to its panel, Dupont-Brown said "never say never".

“But having said that, we don’t want to add new lenders to our panel for the sake of it. They have to be a right fit for our company and for our brokers as well as our customers. They have to offer something competitive for our customers.”

Mortgage Choice begins offering HSBC’s range of basic and fully featured home loans to clients this month. This includes access for qualifying customers to HSBC Premier, HSBC’s premium banking and wealth management service.

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