Australian company Annex Group has partnered up with UK mortgage network, Mortgage Advice Bureau (MAB).
Annex Group builds and manages mortgage broking businesses for major real estate players in the Australian market, including Morton Real Estate which specialises in NSW properties.
It has joined with MAB, a mortgage network with more than 1000 brokers in the UK and more recently Australia, as industry scrutiny ramps up.
MAB announced to the London Stock Exchange at the end of 2016 that it had completed its investment into a joint venture with Mortgageport to expand to Australia. It also partnered with Purplebricks as its initial introducer.
MAB CEO Peter Brodnicki anticipated at the time that Australia would go through regulatory changes, as had been seen in the UK.
Director of Annex Group, Dean Perlman, said their new partnership stemmed from the increasing pressure the industry is currently under.
He added: “With the spotlight on our industry focusing on the customer experience, especially from a regulatory perspective, we thought it imperative to partner with a leading international player whose systems, technology, size and structure would enable our various divisions to perfect their services to clients and lenders alike. Both in sourcing loans but also in managing the hugely valuable customer relationship post settlement, a vital aspect which unfortunately gets swept aside too often.”
MD of MAB Australia Darren Cantor said: “The Annex Group has a proven track record of delivering property instructions for their real estate partners alongside creating an additional asset base for them via sales of relevant, tailored mortgage solutions.
“The business and culture fit couldn’t be better and we really look forward to pushing the boundaries together in terms of the service levels provided to our real estate partners and their customers. It’s a win-win for our partners, their clients and for both businesses.”
