Mortgage Express & Mortgage People Join Forces

“Mortgage Express & Mortgage People Join Forces”

Two of New Zealand’s leading mortgage broking companies; Mortgage Express and Mortgage People have today announced a new joint venture company for the nationwide distribution of Mortgages and Insurance.

Independent Mortgage & Insurance Group Ltd (IMIG) will commence operation with an annual mortgage volume already in excess of $1.3 billion making them one of the largest mortgage brokers in the country. It says it is also in final negotiations with other broking firms and independent brokers who can see the benefits of being part of a national broking network and who will likely join the group.

Whilst mortgages are the immediate business, both companies have been trialing insurance broking and will now work together to ensure that this is included in the range of services they offer the home buyer.

“It is the objective of the group to build a $5 billion mortgage distribution network ensuring that 60 percent of this has a risk policy attached to it”. They say the new group will enjoy immediate benefits and greater efficiencies through sharing of IT platforms, back end processing, management, overheads and marketing. “These savings all become possible when you talk about pooling resources”.

The group will also focus on various channels that each company has been developing. This will include the multi-national Harcourts real estate group which throughout its Australasian network has annual sales in excess of $17 billion.

“The key benefit of the new group is that we can offer instant volume for suppliers looking to grow market share in mortgages and insurance”.

ENDS

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