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Mortgage Choice

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Type
  
Public limited company

Area served
  
Australia

Headquarters
  
Sydney, Australia

Traded as
  
ASX: MOC

CEO
  
John Flavell (Apr 2015–)

Founded
  
1992

Mortgage Choice httpslh6googleusercontentcomiMQyf2HsJ0AAA

Key people
  
Peter Ritchie AO (Chairman) John Flavell (CEO)

Services
  
Mortgage broking, Financial Planning

Website
  
www.mortgagechoice.com.au

Stock price
  
MOC (ASX) A$ 2.41 +0.13 (+5.70%)17 Mar, 4:10 PM GMT+11 - Disclaimer

Founders
  
Rodney Higgins, Peter Higgins

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Mortgage choice what does a mortgage broker do


Mortgage Choice Limited (ASX: MOC), commonly known as Mortgage Choice, is a publicly listed Australian mortgage broking firm.

Contents

Mortgage Choice is a current member of the Franchise Council of Australia as well as the Mortgage & Finance Association of Australia; and holds a credit license (number 382869) issued by the Australian Securities & Investments Commission.

Welcome to mortgage choice woolloomooloo mortgage brokers


History

The company was founded in 1992 in Sydney by Rod Higgins and Peter Higgins. After two years in operation, the company became a franchisor in 1994 by selling its first franchise license in Wollongong. That grew to a national footprint in 1996.

In 1998 Mortgage Choice launched a website and ran its first TV advertisement one year later.

In 2004, the company officially listed on the Australian Stock Exchange.

In 2008, it launched a diversified product offering, commencing with mortgage protection insurance; in 2011 that offering runs across commercial and personal loans, asset finance and risk and general insurances.

In 2009, Mortgage Choice acquired mortgage aggregator LoanKit . This re-launched in 2010 as the company’s aggregation arm.

In 2010, Mortgage Choice acquired Australian home loan and insurance comparison website HelpMeChoose.com.au; and launched its first white label product bluegum™ home loans.

Operations

In Australia, Mortgage Choice is a national mortgage broker with a customer base in excess of 350,000 and a residential home loan panel of over 28 lenders.

The franchisor’s head office is in Sydney, with state offices in Brisbane, Melbourne, Adelaide and Perth.

There are approximately 405 Mortgage Choice franchises in operation across Australia in all states and territories.

Financial Information

Financial highlights for the 12 months to 30 June 2014

  • Net profit after tax (NPAT) on a cash basis was $18.7 million, an increase of 18.6% on FY13.
  • Mortgage Choice’s loan book, reached $47.4 billion. This was up 4.6% from $45.3 billion at 30 June 2013.
  • $12.2 billion worth of housing loan approvals were written by Mortgage Choice in the year, up from $10.4 billion in FY13.
  • Mortgage Choice’s settlements hit $10.4 billion, up 18.1% from $8.8 billion in FY13.
  • Shareholders rewarded with a fully franked final dividend of 8 cents per share, which takes the total dividends for the year to 15.5 cents per share – up from 13 cents per share in FY13.

    • IFRS highlights for the 12 months to 30 June 2014

  • NPAT was $18.5 million, down 1.4% on $18.7 million in FY13 (excluding gain on sale of LoanKit). This result can be attributed to the fact that Mortgage Choice was required to realign its valuation assumptions to reflect the changing economic factors.
  • Earnings per share is now sitting at 16.0 cents, up from 15.2 cents in FY13 (including the sale of LoanKit).
  • Total group revenue was $178.5 million, up 14.8% on FY13.

    • References

    Mortgage Choice Wikipedia
    (Text) CC BY-SA