{"id":31448,"date":"2021-03-29T12:42:23","date_gmt":"2021-03-28T23:42:23","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=31448"},"modified":"2021-03-29T12:42:23","modified_gmt":"2021-03-28T23:42:23","slug":"rea-group-to-acquire-mortgage-choice","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/rea-group-to-acquire-mortgage-choice\/","title":{"rendered":"REA Group to acquire Mortgage Choice"},"content":{"rendered":"

PHOTO: REA Group<\/strong><\/p>\n

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The multinational property services group has announced a proposal to acquire 100 per cent of Mortgage Choice by way of a scheme of arrangement.<\/p>\n<\/div>\n

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REA Group<\/a> has announced a proposal to acquire major brokerage Mortgage Choice<\/a> (with the major brokerage entering into an agreement to be acquired by REA Group), which it said would accelerate its financial services strategy.<\/p>\n

The group will add the Mortgage Choice enterprise to its global operation, which includes franchise broking group Smartline.<\/p>\n

Combining Smartline and REA Group\u2019s audience and data insights with Mortgage Choice would create an Australian mortgage brokerage with over 900 brokers and \u201csignificant growth opportunities\u201d, the major brokerage said.<\/p>\n

REA Group said that the acquisition would create a mortgage broking business with scale, and would be supported by its digital capabilities, property data insights, and its property seeker audience.<\/p>\n

The transaction is still subject to conditions being met, including Mortgage Choice shareholder and regulatory approvals.<\/p>\n

It is expected to take approximately three months to complete, with the scheme expected to complete in mid-2021.<\/p>\n<\/div>\n

READ MORE VIA THE ADVISER<\/a><\/p>\n

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