Major Merger of Mortgage Brokers Impact Australian Home Loan Market

Feb. 17, 2010 - PRLog -- Smartline Managing Director, Chris Acret, said while the merger had required considerable management time and effort, the process had been relatively smooth, with more than 60 Mortgage Force brokers operating within the Smartline franchise system from 1 July.

The Mortgage Force brand has been retained in WA, with the Smartline brand adopted across the rest of the country.

“We were always confident the merger would succeed as a result of both groups’ strong client care ethic and shared values,” Mr Acret said.

“Mortgage Force had a great team culture and a strong group of brokers. Smartline was able to offer their brokers the Smartline franchise, providing them a business opportunity with benchmark software, systems and marketing.”

Mr Acret said last week’s merger would allow Smartline to further capitalise on the considerable investment made in the group’s systems in recent years and achieve greater economies of scale.

“We think there is real strength in our ‘smart advice’ branding and comprehensive client care program,” he said.

“We know that our systems are industry best practice, whether that is our IT platform or our relationship marketing program that is integral to the large number of referrals that we receive.

Smartline expects its franchisees to number 240 within the next 12 months through ‘organic’ growth and has not ruled merger or acquisition to reach its ultimate goal of 300 franchisees.

“Our long term goal has always been to have over 300 franchisees and that target is now in sight and should be achieved over the next few years,” Mr Acret said.

“In this current environment, broking groups need both size and quality and we believe we are well placed to face future challenges and capitalise on opportunities.”

For more information on the Smartline Mortgage Broker Franchise please contact Todd Matea - tmatea at smartline.com.au.

# # #

About Smartline: Established in 1999, Smartline is an Australian-owned finance and mortgage loan broker with over 200 franchise owners throughout Australia. Smartline is the winner of numerous industry awards for best mortgage broking group and was recently ranked number one franchise in Australia.