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Mortgage Choice has significantly boosted its lead generation capabilities with the acquisition of a leading online comparison site.
Helpmechoose.com.au generates tens of thousands of home loan leads annually from potential home loan customers. The site helps consumers compare thousands of life and health insurance products as well as mortgages.
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Mortgage Choice CEO Michael Russell described the acquisition as “an exciting strategic investment for the company given that over 70 per cent of our home loan leads are currently sourced online”.
Mortgage Choice was an existing client of the site along with a number of other lenders and brokerages.
The brokerage has confirmed that HelpMeChoose.com.au will continue to operate as a standalone business, maintaining its relationships with its existing clients.
Mr Russell said the comparison website has a unique business model, one that customers and brokers alike embrace.
HelpMeChoose.com.au founder Dr Adir Shiffman said: “This is a great opportunity for our business. After growing at more than 100 per cent per annum for the last couple of years, we were seeking a business partner that could help us take the next step.
“Mortgage Choice was the standout for their understanding of the space and their ability to support us, while taking a hands-off approach to operations.”
The announcement marks the second acquisition Mortgage Choice has made in 11 months, the first being mortgage aggregator LoanKit.
There are also strong indications that this will not be the last purchase Mortgage Choice makes.
“Mortgage Choice’s overriding strategy is to continue to increase our home loan market share,” Mr Russell said.
“This purchase shows Mortgage Choice is still actively seeking growth opportunities through acquisitions and if the opportunity to buy a great business arises we will pursue it.”
