Buyers Choice provides finance for property, small business, vehicles and equipment as well as personal finance and car loans
Mortgage broking business MoneyQuest has bought Buyers Choice, which is a boutique sub aggregator which currently settles more than $250 million a month.
Buyers Choice provides finance for property, small business, vehicles and equipment as well as personal finance and car loans.
Michael Russell, MoneyQuest managing director, said: The impact on franchisees will be a positive one, as we are confident that each business can offer something of real value to the other. It is our intention to sharpen the value proposition that both businesses provide to their brokers.
We are looking forward to sharing best practices to further sharpen the operational efficiencies and value propositions of both businesses, to attract more high quality brokers aspiring to own thriving mortgage broking businesses, he said.
MoneyQuest has more than 100 offices across the country, and the national mortgage broking franchise has big plans for the combined business.
Buyers Choice CEO, Brett Mansfield, will continue with the business. He said the two companies share identical values and a likeminded culture.
I am thrilled with the strategic vision we have mapped out and am looking forward to leveraging our combined resources to further enhance our broker proposition, he said.
MoneyQuest franchisees are already confident in their choice, a survey conducted earlier this year reveals with the brokers very optimistic about their business potential (68 per cent), with 32 per cent optimistic about the 2021/2022 financial year.
In the same brand-wide survey, 96 per cent of respondents said they were happy with their decision to become a mortgage broker.
In 2020 MoneyQuest invested heavily in a tech platform to help boost franchisees’ bottom lines.