This article is from the Australian Property Journal archive
THE White Family, owner of real estate group Ray White, has bought mortgage broker, Loan Market Group and wants to expand into the home insurances service market.
Loan Market Group executive chairman Sam White said the White family group of companies had acquired the remaining equity in Loan Market Group held by the founding X Inc Finance directors Dean Rushton, Jennifer Nielsen and John Kolenda.
Loan Market Group was formed two years ago when X Inc merged with Ray White Group’s Mortgage Organisation Channels of Australasia Pty Ltd (eMOCA), comprising Ray White Financial Services, Loan Market and Realestate.com.au Home Loans.
White said the new ownership structure of Loan Market Group will help leverage its planned investment across all businesses.
“There are obvious synergies between mortgage broking and real estate practices. In addition it will enable the group to invest further in the development of its insurance operation, Insurance Market.
“We see insurance as a big part of future revenue streams,” he added.
White said there are a number of issues that need to be faced including regulation, the opening of new financing opportunities, the bank led consolidation of the broker space and the industry trend of brokers diversifying and growing their business through the provision of insurance and financial services, amongst others,” he concluded.
Australian Property Journal
