Who is Mortgage Choice owned by?
REA Group Ltd
Since 1 July 2021 Mortgage Choice is a wholly owned subsidiary of REA Group Ltd (REA:ASX). Mortgage Choice holds an Australian Credit Licence: no. 382869. FinChoice Pty Limited, a fully owned subsidiary of Mortgage Choice, holds an Australian Financial Services Licence: no.
Is Mortgage Choice owned by CBA?
Aussie Home Loans is 80 per cent owned by the Commonwealth Bank, who also have a 21 percent share in Mortgage Choice. The NAB outright owns 100 percent of Choice, Plan and Fast together, which is more than 30 percent of all brokers.
What is the average mortgage in South Australia?
Borrowing big: Australia’s average mortgage size is now just shy of $600,000
| November 2020 | Annual increase | |
|---|---|---|
| QLD | $440,045 | 17% |
| SA | $383,785 | 10% |
| WA | $416,710 | 5% |
| TAS | $372,740 | 20% |
What does Mortgage Choice do?
Mortgage Choice provides a personalised service to help borrowers find the right loan for your individual circumstance. It’s a service that they provide free of charge to customers, as they get paid via commission from the bank or lender.
What is Mortgage Choice worth?
Mortgage Choice, which has a loan book worth $54 billion, has been making record profits for its shareholders, which include Commonwealth Bank and the founders, the Higgins brothers, who also sit on the board.
How many brokers does Mortgage Choice have?
Mortgage Choice and Smartline are estimated to have around 900 brokers across Australia, with Mortgage Choice operating over 400 franchises, which will retain their name and branding after the merger.
How many lenders are there?
In 2019, a total of 5,508 financial institutions—banks, savings associations, credit unions, and nondepository mortgage lenders—reported data on 15.1 million applications and 9.3 million originations under HMDA.
What is the average monthly payment on a 500k mortgage?
Monthly payments on a $500,000 mortgage At a 4% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total $2,387.08 a month, while a 15-year might cost $3,698.44 a month.
What percentage of salary should go to mortgage Australia?
However, the general rule is 28% of your income should be funnelled into your mortgage. Anything above that amount, the average earner might find their financial situation a little uncomfortable. However, this is just a general rule, and your finances may allow for a bigger or smaller percentage.
Should I speak multiple mortgage brokers?
In short: Shopping for multiple mortgage lenders helps find you the best deal on your mortgage. But don’t go out there and call up too many lenders, as it can ding your credit. You also leave yourself open to solicitors making unwanted phone calls.
How many employees does Mortgage Choice have?
90 people
The company employs approximately 90 people, operates throughout Australia, and is administered by its head office in North Sydney, New South Wales.
What happened to my Mortgage Choice shares?
Trading in Mortgage Choice shares on the Australian Securities Exchange (ASX) was suspended from the close of trading on Friday, 18 June 2021. An application will be made to terminate Mortgage Choice’s official quotation on the ASX and removal from the official list of the ASX, effective on 1 July 2021.
What is a Mortgage Choice broker?
Mortgage Choice brokers compare hundreds of home loans to find you the home loan that best suits your needs. Find a local mortgage broker now for expert advice at no cost to you.
Can a mortgage broker help me compare home loans in Adelaide?
Our network of local mortgage brokers in Adelaide can help you compare hundreds of homes loans from our panel of over 25 lenders. Talk to a local expert today to find a product that works for you. Mortgage Choice brokers compare hundreds of home loans to find you the home loan that best suits your needs.
How can Mortgage Choice help you?
Contact one of our local experts today to see how we can help you. Mortgage Choice was founded by the Higgins brothers over 27 years ago. They believed in giving Australians access to a choice of home loans, backed by expert advice to help them make the right choice.