Mortgage Choice launches new product

Company News

One of Australia’s largest independently-owned mortgage brokers, Mortgage Choice Ltd. (ASX:MOC), is set to launch its first white label product suite on November 29 in a bid to expand its home loan lender panel.

Bluegum Home Loans is expected to increase competition in the interest rate sensitive mortgage market.

Following the Reserve Bank’s interest rate hike earlier this month, Mortgage Choice has seen a sharp increase in enquiries as borrowers look to refinance their mortgages by stepping away from the Big Four.

For the year ended 30 June 2010, Mortgage Choice booked a net profit of $23.4 million.