Leading mortgage broker group Mortgage Choice is to be acquired by REA Group. The deal was announced early Monday morning and will be completed in mid-2021, pending shareholder and court approval.
The franchise will become part of REA’s global operations, sitting alongside existing brands like Smartline. According to a statement released to announce the acquisition, it will allow REA and Smartline to combine their audience reach and data backend with Mortgage Choice’s strong brand identity and footprint.
The new combined operation will have almost 1000 mortgage brokers across Australia, enabling the potential for significant growth.
Speaking exclusively to Australian Broker, Mortgage Choice CEO Susan Mitchell said: “We are very excited to be joining forces with REA. The logic in bringing our businesses together is compelling, creating a business of scale with a strong human and digital offering. It allows us to assist more customers in a more effective way and accelerate opportunities for our network.”